Market Infrastructure

ISDA Consults on Fallback Benchmarks for Discontinued IBORs

16/07/2018

ISDA proposes adjustment options that will be applicable to fallback rates in the event a derivative references an IBOR that has been permanently discontinued; FSB cautions on the use of overnight RFR to replace term IBORs.

Fintech / Regtech

Shanghai Bourse Studies Use of DLT for Securities Markets

16/07/2018

In a research paper, the SSE envisions DLT efficiency in post-trade settlement and securities issuance and trading, calling on regulators to “adapt to evolving technology.”

Securities / Derivatives

SEBI Blocks Cash Payments To Stock Brokers

16/07/2018

Stock brokers are no longer allowed cash payments either directly or deposited into their bank accounts, as India aims to promote digital payments and a cashless economy.

Market Infrastructure

ESMA Seeks Extension of Intragroup Clearing Exemption

16/07/2018

In intragroup transactions involving a third country entity, ESMA is seeking to extend its temporary clearing exemption for derivatives transactions.

Securities / Derivatives

SGX to Roll Out Central Clearing for Bilateral OTC FX Derivatives

16/07/2018

Singapore Exchange to launch trading solutions allowing privately negotiated OTC FX trades to be cleared like standard FX futures; launch set for 27 August encompassing five currency pairs, including USD/CNH.

Market Infrastructure

SEBI Amends Stress Testing Methodology for Commodity Derivatives

12/07/2018

Minimum capital requirement for settlement guarantee fund has been fixed at INR100mn, as opposed to being determined through daily stress tests.

AML / KYC

India Mulls Tracking for All Non-Cash Financial Transactions

12/07/2018

India’s central bank is looking to create a repository of all non-cash financial transactions to widen the government’s crackdown on money laundering or shell company activities.

Enforcement

AMP Warns Financial Advisers on Licences Amid ASIC Investigation

12/07/2018

ASIC has launched a civil action against AMP for misconduct in its financial planning arm causing the firm to put 300 of its financial planners on notice that their licences may be discontinued.

AML / KYC

Australian Tax Officials To Crack Down On Crypto Traders

12/07/2018

The Australian Tax Office will use cross border data sharing agreements to track tax obligations of cryptocurrency traders, though tax implications from major gains will likely be confined to a few individuals.