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.

Securities / Derivatives

CSRC Implements ‘Whitelist’ System for Securities Sector

02/06/2021

The 29 firms that have entered the “white list” will receive lower levels of supervisory scrutiny and be allowed greater flexibility in their business processes.

Market Infrastructure

Hong Kong, Shanghai Announce First ETF Cross-Listings

02/06/2021

The ETF cross-listing mechanism provides Chinese investors another avenue to access the Hong Kong market besides Stock Connect.

Market Infrastructure

FSB Proposes Global Targets for Enhancing Cross-border Payments

01/06/2021

The FSB proposes quantitative targets for improving cost, speed, transparency and access for cross-border wholesale payments, retail payments and remittances.