Securities / Derivatives

Japan’s New Foreign Investment Rules Take Effect

10/05/2020

While a series of exemptions for foreign financial institutions have been granted, the new requirements only allow 30 days for full implementation on 7 June.

Market Infrastructure

HKMA Proposes Mandatory Reference Checks to Stop Rolling Bad Apples

08/05/2020

Under the scheme, prospective employees would be required to disclose employment records to recruiting AIs before a new employment relationship is established.

Market Infrastructure

EU Benchmark Equivalence Regime Not Scalable: ISDA, FIA

07/05/2020

While the Associations welcome the legal approach taken, they highlight that the draft equivalence decision excludes the widely referenced Nikkei and JPX benchmarks.

Market Infrastructure

Industry Bodies Request Margin Exemption Extensions under EMIR

06/05/2020

ISDA and other industry associations are asking for equivalence decisions for all jurisdictions that have implemented margin rules in line with the BCBS-IOSCO framework.

Securities / Derivatives

HK Govt Under Fire for ‘False’ Justification of Broker Subsidies

03/05/2020

Average daily market turnover jumped 54.5% in Q1 2020 compared to Q4 2019, which has led to a corresponding increase in brokerage revenues and profits.

Capital / Liquidity

Legacy Systems, Poor Data Quality Hindering BCBS 239 Adoption

29/04/2020

Some banks have changed their BCBS 239 implementation strategies to comprehensively improve data quality, but this will take considerable time to resolve.

Capital / Liquidity

Banks Sufficiently Capitalised to Pay Dividend, says RBA Governor

22/04/2020

Australian banks are well-capitalised and have the ability to pay dividends, says RBA governor Philip Lowe. ANZ, Westpac and NAB are reportedly engaging with APRA on the issue.

Capital / Liquidity

HKMA Introduces USD Facility, Postpones Supervisory Stress Tests

22/04/2020

$10bn will be available to banks under the USD liquidity facility. The stress tests are being postponed to 2021 to free up banks’ operational capacity.

AML / KYC

US Agencies Issue Alert on North Korea Cyber Threat

22/04/2020

The advisory highlights the powers US agencies have to subpoena foreign FIs that maintain a correspondent bank account in the US to gain access to customer records stored overseas.