Structural Regulation

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.

Clearing & Post-Trade

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.”

Payments & Settlements

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.

Clearing & Post-Trade

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.

Clearing & Post-Trade

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.

Capital Adequacy

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.

Anti-Money Laundering

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.

Conduct, Culture & Accountability

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.

Cryptocurrency

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.