Capital / Liquidity

RBI Removes Indian Overseas Bank From PCA Framework

03/10/2021

The RBI said Indian Overseas Bank is no longer in breach of the PCA parameters. Only Central Bank of India remains under the PCA framework.

AML / KYC

PBOC Directs Banks to Offer ‘Simple’ Account Opening

03/10/2021

Banks are asked to relax documentary requirements and provide simple personal account opening services, making use of external data to verify customer identities.

Securities / Derivatives

SGX Adds RFQ Functionality for FX Derivatives on OTC Platform

03/10/2021

The RFQ function allows market participants to negotiate and transact block trades in FX futures and options on the Titan OTC Pro platform.

Big Picture

FMSB Offers Guidance on Mitigating Risks of Hybrid Working

02/10/2021

In a new Spotlight Review, the FMSB outlines steps firms can take to promote equivalent conduct outcomes in a hybrid environment.

Crypto / Digital Assets

MAS Grants Two New Licences to Provide DPT Services

02/10/2021

DBS Vickers and Independent Reserve have received authorisation under the PSA to provide digital payment token services.

Capital / Liquidity

SEBI to Raise Net Worth Requirements for Market Intermediaries

02/10/2021

SEBI proposes to progressively raise the net worth requirements for trading members, clearing members and depository participants by October 2023.

Enforcement

CFTC Penalises Interactive Brokers Over Negative Oil Prices

02/10/2021

Interactive Brokers was penalised for not adequately preparing for and configuring its electronic trading system to recognise negative prices on 20 April 2020.

CBIRC to Adopt New Filing System for Insurance Funds

02/10/2021

The new record-filing system will boost the efficiency of product issuance, allowing registration results to be issued within five working days.

Market Infrastructure

SEBI Approves Proposals for Gold Exchange, Social Stock Exchange

01/10/2021

SEBI will allow trading in electronic gold receipts. A social stock exchange will be created. Regulations on related party transactions have been strengthened.