Manesh manages the news desk and serves as an editor at Regulation Asia. He covers regulatory changes across Asia Pacific that impact banking, capital markets, asset management, and financial services more generally. Manesh is a former trader and investment consultant with a degree in Finance and Banking. manesh@regulationasia.com
Market Infrastructure
CSRC Updates Senior Manager Rules for Securities, Fund Operators
24/11/2020
Securities and fund management firms are expected to establish and improve internal accountability mechanisms for senior managers, and penalise violations with clawback and malus.
Crypto / Digital Assets
Australian Treasury Seeks Feedback on Payments System Regulation
23/11/2020
The paper seeks views on the adequacy of the current regulatory architecture for developments such as stablecoins, cryptocurrency, digital wallets, stored value facilities and open banking.
Capital / Liquidity
MAS Launches New RMB Liquidity Facility for Banks
23/11/2020
RMB funding of up to 3 months will be channelled to primary dealers, thereby enhancing credit intermediation and overall RMB market liquidity in Singapore.
Securities / Derivatives
ASIC Launches Probe into ASX Over Equity Market Outage
23/11/2020
ASIC had earlier said it would determine whether ASX followed the relevant regulatory requirements and met its licence obligations.
Market Infrastructure
BSP Instructs Banks to Report on LIBOR Exposures Quarterly
23/11/2020
The regular reports will guide the degree of the central bank’s supervisory engagement with individual institutions, BSP deputy governor Chuchi Fonacier told Regulation Asia.
Securities / Derivatives
SGX RegCo Mulls Measures to Address Concentration Risk in REITs
22/11/2020
SGX RegCo chief Tan Boon Gin spoke about concentration risk, the enforceability of security deposits overseas, and director independence at REIT managers.
Market Infrastructure
March Market Turmoil Highlighted MMF Vulnerabilities: IOSCO
22/11/2020
In a new report, IOSCO highlights the need for further reform to address vulnerabilities in certain types of non-public money market funds.
Market Infrastructure
LIBOR Transition Work Needs to Accelerate in Early 2021: FSB
21/11/2020
In a progress report on global transition efforts, the FSB highlights slower progress in loan markets, which it says must be addressed urgently.
Market Infrastructure
APLMA Seeks Consensus on SOFR-based Loan Facilities in APAC
19/11/2020
New discussion drafts cover the use of SOFR for USD loan facilities in APAC, one using the compounded average approach and the other based on Daily Simple SOFR.
Enforcement
China Bond Default Shock Prompts NAFMII Underwriter Probe
19/11/2020
Haitong Securities, Industrial Bank, China Everbright Bank, Zhongyuan Bank are suspected of violations, as recent defaults prompt concerns over the health of SOEs.
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