Market Infrastructure

LCH Set to Switch Discounting, PAI Rate from SOR to SORA

08/08/2021

LCH is switching its discount curves and PAI rate on SGD-denominated cleared swaps from SOR to SORA on 9 August.

Market Infrastructure

China: New Rules Issued to Address Unreliable Bond Ratings

08/08/2021

The rules require credit rating agencies to strengthen their methodologies and systems, improve corporate governance, and avoid conflicts of interest.

Securities / Derivatives

CSRC Allows Fidelity to Set up China Retail Fund Business

08/08/2021

Fidelity has become the second global asset manager to receive approval to set up a fully-owned mutual fund business after BlackRock.

AML / KYC

US DOJ Repatriates Additional $452bn in 1MDB Funds to Malaysia

08/08/2021

The total funds belonging to 1MDB that have been returned to date amount to over $1.2bn, the DOJ said in a statement.

AML / KYC

SEBI Allows Indian Fund Managers to Participate in FPIs

07/08/2021

KYC norms that required FPIs and institutional investors to disclose their personal information to SEBI have also been relaxed.

Market Infrastructure

LIBOR Alternatives Gain Traction in Japan – Report

06/08/2021

OIS transactions based on TONA and TIBOR increased in July, suggesting alternative rates to JPY LIBOR are gaining traction.

Capital / Liquidity

APRA Releases Final Prudential Standard on Capital Adequacy

06/08/2021

CET1 capital may not have unusual features that could undermine its role as the highest quality loss-absorbing capital. The final APS 111 takes effect from 1 January 2022.

Market Infrastructure

CPMI Workplan Highlights Focus on Stablecoins, CBDCs

06/08/2021

CPMI annual work programme highlights cross-border payments, stablecoins, CBDCs, central clearing and FMI risks as key priorities.

Enforcement

ASIC Issues Update on Compensation Paid for Non-compliant Advice

05/08/2021

Australia’s 6 largest FIs have paid over A$1.86 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.