Trading & Investment

FCA Calls on Issuers to Transition Remaining LIBOR Bonds

18/08/2022

Issuers of remaining GBP, JPY and USD LIBOR-linked bonds should initiate consent solicitation processes, and not rely on synthetic rates.

Market Abuse

Korea FSS Targets Illegal Short Selling, FX Transactions

17/08/2022

October inspections will focus on firms with high volumes of short selling transactions. Probe into crypto-related FX transactions still underway.

Trading & Investment

Investment Funds Increasingly Setting Up as Singapore VCCs

17/08/2022

Singapore has reportedly been welcoming more than a dozen investment funds every month under the VCC regime.

Liquidity Risk

China to Issue Guarantees on Bonds Issued by Developers

17/08/2022

State-owned China Bond Insurance will give unconditional and irrevocable joint liability guarantees for batches of bond sales in the interbank market.

PEPs & Sanctions

China Sanctions Taiwanese Politicians Over Official US Visit

17/08/2022

China’s sanctions targets include Taiwan’s de facto ambassador to the US, five lawmakers and an activist.

Credit Risk

Korea to Launch Small Business Loan Refinancing Programme

17/08/2022

Banks and nonbank lenders will offer refinancing of business loans taken by self-employed and small merchants with interest rates of 7 percent or higher.

Credit Risk

Hong Kong FRC Probes Evergrande, PwC Over Loan Guarantees

16/08/2022

The FRC is concerned about deposits held by Evergrande’s property services unit that were pledged as security for third parties to obtain bank loans.

Conduct, Culture & Accountability

HK Exchange Censures Ping An Securities, Two Former Directors

16/08/2022

The two former executive directors of Ping An Securities caused losses to the company through unapproved loans and asset disposals.

Clearing & Post-Trade

CFTC Removes Clearing Requirement for LIBOR Swaps

16/08/2022

Mandatory clearing requirements will instead apply to interest rate swaps referencing SARON, TONA, €STR, SOFR and SORA.