Trading & Investment

NSE Receives CFTC Approval to Sell Futures to US Customers

21/05/2018

NSE can sell futures products to US investors without the later having to register separately as a futures merchant; CFTC approval hinges on information exchange on NSE transactions with SEBI.

Liquidity Risk

RBI Mandates 100pc NSFR for Banks

21/05/2018

The Indian central bank finalised its liquidity guidelines for banks requiring a 100% Net Stable Funding Ratio, in line with Basel III rules.

Capital Adequacy

China Gives the CBIRC Exclusive Supervision Over Leasing Industry

17/05/2018

Leasing companies will no longer come under the Ministry of Commerce and will be supervised by the CBIRC, in a move to streamline regulation of the leasing industry and ensure consistent application of regulatory norms.

Conduct, Culture & Accountability

Hong Kong SFC Releases Further Details on Licensing Regime

17/05/2018

SFC bulletin highlights areas of concern the regulator considers in granting and rejecting licenses as well as updates to MIC regime; SFC also announced a forthcoming thematic review of MIC regime compliance.

Trading & Investment

BSE Receives US SEC “Designated Offshore Securities Market” Status

17/05/2018

Designation will allow Indian exchange BSE to sell securities to US investors without needing to register them with the US SEC.

Anti-Money Laundering

ICBC’s US Securities Unit Fined $5.3mn for AML Failures

17/05/2018

US regulator FINRA has fined ICBC Financial Services for failing to have an AML program in place; ICBC FS also settled a case with the US SEC, paying $860,000 for failing to report suspicious transactions in its penny stock trading business.

Structural Regulation

Shanghai to Allow Foreign Banks to Set Up Branches, Subsidiaries

16/05/2018

China will allow foreign banks to set up branches and subsidiaries in Shanghai amid a host of measures to further open up the city’s financial sector.

Trading & Investment

ASIC Consults on Relief from Naked Short Selling Prohibitions

16/05/2018

ASIC proposes to grant legislative relief on naked short selling prohibitions for ETF market-making, corporate actions and IPO sell-downs.

Capital Adequacy

BCBS, IOSCO Target Simple, Transparent Securitisation Structures

16/05/2018

Preferential regulatory capital treatment to be applied for banks acting as investors in or as sponsors of short-term securitisations that meet ‘simple, transparent and comparable’ criteria.