Market Infrastructure

RBI Enables Private Banks to Conduct Government Business

18/05/2021

Revised RBI guidelines put in place a mechanism for private sector banks to apply for authorisation to conduct government business.

Securities / Derivatives

China Regulators Facilitate Financing Arrangements for Huarong

18/05/2021

The CBIRC has reportedly helped to facilitate the provision of liquidity support to Huarong until August through loans from state-owned banks.

Securities / Derivatives

Tokyo Bourse Plans to Extend Trading Hours – Report

18/05/2021

Longer trading hours are expected to increase participation from overseas investors, as well as local retail investors that trade after work.

Market Infrastructure

HKEX Clears First SOFR-HONIA Cross Currency Swaps

18/05/2021

OTC Clear announced last week that it was launching clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.

Enforcement

SG Police Issue Cheating Charges in Nickel Trading Fraud Case

18/05/2021

With the latest charges, Ng Yu Zhi now faces a total of 18 counts of cheating, fraudulent trading and forgery. He will return to court on 28 June.

Enforcement

CSRC Launches Probe into Allegations of Market Manipulation

17/05/2021

A fund manager has claimed that at least 18 stocks are being manipulated by the listed companies, private equity funds and publicly offered funds.

AML / KYC

RBI Relaxes Restrictions on the Use of Video-based KYC

17/05/2021

Video-based KYC can be used for onboarding individual customers, business owners, and authorised signatories and beneficial owners of legal entities.

Securities / Derivatives

SEBI Consults on Measures to Protect Client Collateral

17/05/2021

The proposed framework seeks to protect clients’ collateral from being misused or misappropriated by trading or clearing members.

Enforcement

China: Former Trust Company Chair Jailed for Corruption

17/05/2021

Gao Fubo is the third chairman of state-owned Jilin Trust to be convicted on corruption and bribery charges. A fourth is awaiting trial.