Securities / Derivatives

Philippine SEC Issues Draft Guidelines for ASEAN CIS Framework

03/06/2021

The draft guidelines will operationalise the supplemental MOU signed last month to admit the Philippines to the ASEAN CIS framework.

Market Infrastructure

FSB, IOSCO Issue Statements in Support of Smooth LIBOR Transition

02/06/2021

The FSB warns against waiting for the development of forward-looking term RFRs. IOSCO urges market participants to stop issuing new LIBOR products.

Capital / Liquidity

FSC Korea Expected to Lift Bank Dividend Cap in June

02/06/2021

Despite criticism from investors, most banks adopt a 20 percent cap on dividends, as recommended by the FSC in January.

Enforcement

RBI Penalises HDFC Over Sale of Non-financial Products

02/06/2021

HDFC violated rules that prohibit banks from entering into any business unrelated to financial services.

Market Infrastructure

IHS Markit Starts Publishing New Credit-sensitive Rates

02/06/2021

The new rates are aimed at helping to facilitate the transition away from LIBOR for firms that want a term rate with credit sensitivity.

Securities / Derivatives

Japan Considers Allowing SPAC Listings – Report

02/06/2021

Japan may allow SPAC listings on its markets as part of its growth strategy as early as next year.

Capital / Liquidity

APRA Sets Out Timeline for Finalisation of Capital Reforms

02/06/2021

The final prudential standards will be released in November, the final prudential practice guides in Q2 2022, and the final version of the interim reporting standards in Q3 2022.

Enforcement

ASIC Bans Former Director of Global Merces Funds Management

02/06/2021

The former director is being charged criminally for providing false information to auditors and falsifying the books of Global Merces.

ESG / Sustainability

FINMA to Require Banks, Insurers to Disclose Climate Risks

02/06/2021

New disclosure rules will enter into force on 1 July, requiring large banks and insurers to disclose climate-related financial risks.