Credit Risk

UPDATED – RBI Extends Deadline for Current Account Restrictions

09/08/2021

The extension is being provided to ensure customers are “not put to undue inconvenience during the implementation process”.

Structural Regulation

JP Morgan Approved to Take Full Ownership of China Securities Unit

08/08/2021

JP Morgan already had a controlling stake in the unit. The new approval makes it the first foreign firm to fully own a securities venture in China.

Anti-Bribery & Corruption

Hong Kong ICAC Charges Securities Brokers for Bribery

08/08/2021

Two securities brokers accepted commissions to arrange for their clients to use a futures trading programme provided by a software company.

Clearing & Post-Trade

LCH Set to Switch Discounting, PAI Rate from SOR to SORA

08/08/2021

LCH is switching its discount curves and PAI rate on SGD-denominated cleared swaps from SOR to SORA on 9 August.

Credit Risk

China: New Rules Issued to Address Unreliable Bond Ratings

08/08/2021

The rules require credit rating agencies to strengthen their methodologies and systems, improve corporate governance, and avoid conflicts of interest.

Structural Regulation

CSRC Allows Fidelity to Set up China Retail Fund Business

08/08/2021

Fidelity has become the second global asset manager to receive approval to set up a fully-owned mutual fund business after BlackRock.

Anti-Money Laundering

US DOJ Repatriates Additional $452bn in 1MDB Funds to Malaysia

08/08/2021

The total funds belonging to 1MDB that have been returned to date amount to over $1.2bn, the DOJ said in a statement.

KYC & CDD

SEBI Allows Indian Fund Managers to Participate in FPIs

07/08/2021

KYC norms that required FPIs and institutional investors to disclose their personal information to SEBI have also been relaxed.

Trading & Investment

LIBOR Alternatives Gain Traction in Japan – Report

06/08/2021

OIS transactions based on TONA and TIBOR increased in July, suggesting alternative rates to JPY LIBOR are gaining traction.