Securities / Derivatives

UPDATED – SGX Granted Extension for Continued India Derivatives Trading

18/06/2018

SGX, NSE ordered to facilitate continued listing of SGX Nifty products for at least two successive contract months beyond arbitration; injunction preventing SGX from launching new successor products to remain in effect pending final outcome.

Fintech / Regtech

MAS 610 a Top Concern for Singapore Banks in 2019 – Report

15/06/2018

High granularity data for new reporting regime requires reporting of approx. 300,000 data elements, the top concern for Singapore banks next year, according to Wolters Kluwer survey.

Fintech / Regtech

S. Korean Banks to Introduce Blockchain-based User Verification

15/06/2018

Korea Federation of Banks to introduce BankSign system next month; will significantly enhance and simplify user verification process for online and mobile banking through blockchain technology.

Capital / Liquidity

RBI Drafts Rules to Restrict Short Term Borrowings

15/06/2018

New rules will require a minimum 40% fixed term loan component of working capital financing facilities by 1 October and 60% by 1 April 2019, to reduce cash credit borrowings which often entail loose repayment schedules, perpetual roll-overs.

Capital / Liquidity

China Cracks Down on ‘False Inflation’ of Bank Deposit Levels

15/06/2018

China’s top financial regulators have issued a new circular that prohibits banks from falsely inflating their deposits, a common practice to improve quarterly and mid-year performance assessments.

Market Infrastructure

Industry-wide Collaboration Needed to Combat Cyber Threat – DTCC

14/06/2018

DTCC Chief Security Officer Stephen Scharf says traditional focus on preventative measure at individual firm level are no longer enough; closer collaboration is needed to develop collective response and recovery plans.

AML / KYC

GIFT City Exchanges Launch Omnibus Account Structure

14/06/2018

BSE’s India INX and NSE IFSC have launched the segregated nominee account structure, allowing foreign investors to avoid direct FPI registration and instead trade Indian equities through established intermediaries.

Market Infrastructure

Hong Kong, Japan to Cooperate on Commodity Market Development

12/06/2018

HKEX and Tokyo Commodity Exchange MoU to promote cooperation through information exchanges, staff exchanges, product development and joint promotion.

Market Infrastructure

Data Driven Regulatory Regimes Challenge Bank Workflows – Report

12/06/2018

Wolters Kluwer research says legacy systems no longer fit for purpose; most firms plan to integrate data in regulatory workflows despite low confidence in data quality.