Market Infrastructure

FCA Consults on Intention to Compel Publication of Synthetic LIBOR

25/06/2021

The FCA intends to compel publication of synthetic versions of GBP and JPY LIBOR, using forward-looking term version of RFRs.

HKMA, SFC Finalise Latest Changes to FSP List

25/06/2021

A unit of Toronto-Dominion Bank will be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.

Big Picture

ASIFMA Calls for Harmonised Approach to Regulating AI

25/06/2021

Regulators should leverage existing frameworks that largely already address and mitigate the key risks associated with the increased use of AI.

Enforcement

SFC Fines Deutsche Securities Asia Over Prime Brokerage Statements

25/06/2021

A system design caused a failure to distinguish between ex-entitlement dates and settlement dates of bonus share events in periodic statements.

ESG / Sustainability

MAS Announces ‘Final’ Extension of Credit Relief Measures

24/06/2021

MAS says this is likely the final extension and that loan repayments must start normalising to minimise debt accumulation.

Enforcement

CBIRC Issues Draft Rules on Related Party Transactions

24/06/2021

Banks and insurers are required to put in place mechanisms to prevent the transfer of benefits to shareholders and their related parties.

AML / KYC

Korean Officials Seize Cryptocurrency from Tax Evaders

23/06/2021

Investigators had to compare tax evaders’ mobile phone numbers against those registered at crypto exchanges in order to track down their account details.

Capital / Liquidity

Korean Cabinet Approves Rules on SIFI Resolution Plans

23/06/2021

SIFIs will be required to prepare recovery and resolution plans and submit them to the FSS within three months from being designated.

Securities / Derivatives

Shanghai, Shenzhen List First Infrastructure REITs for Trading

23/06/2021

All nine REITs opened higher on their first day of trading, highlighting enthusiasm from investors for the new type of equity securities.