Enforcement

Market Conduct Committee Calls for Greater Enforcement Powers for SEBI

13/08/2018

A committee looking at fair market conduct has proposed greater powers for SEBI to go after insider trading, including the power to intercept phone and electronic communications.

Big Picture

RBI Should Have Sole Supervisory Responsibility for PSBs – IMF

13/08/2018

In its India Staff Report, IMF brought up the issue of dual regulation of state run banks and called for full supervisory control of these banks to be given to the RBI.

Enforcement

ASIC Gets A$70mn, New Powers to Boost Enforcement Capabilities

13/08/2018

Australia’s corporate regulator will embed supervisors in large financial institutions to monitor banks’ actions and decision making.

ESG / Sustainability

Singapore Adopts Revised Corporate Governance Code

09/08/2018

New code is based on recommendations by the Corporate Governance Council and focuses on strengthening board independence and diversity; SGX has incorporated the new code in its listing rules.

Securities / Derivatives

Shanghai Bourse to Move to Closing Auction Mechanism

09/08/2018

New call auction mechanism expected to reduce equity market price manipulation will go into effect on 20 August and also apply to transactions on the Hong Kong-Shanghai Stock Connect.

Capital / Liquidity

Singapore’s Three Largest Banks See Robust Performance – Moody’s

09/08/2018

Moody’s reported that DBS, OCBC and UOB have seen improved profitability and stable asset quality going into the second half of the year.

Market Infrastructure

Indonesia Discontinues JIBOR In Favour of Market-based Indonia

09/08/2018

Indonesia’s central bank has announced a new market-based overnight rate to replace its current interbank offer rate to boost reliability of the rates and policy transmission.

Securities / Derivatives

India’s Brokers Move Against Tax on Physically-Settled Equity Derivatives

09/08/2018

Brokers’ lobby is asking the Bombay High Court for a resolution on an impasse between market participants and the NSE over a decision to levy a 0.1% tax on physically settled equity derivatives.

Securities / Derivatives

S. Korea Brokerages Lack Internal Warning Systems – FSS

09/08/2018

Korean brokerages don’t have adequate internal systems that could prevent fat-finger errors like those that affected Samsung Securities in April.