SECURITIES / DERIVATIVES

Enforcement

US OCC Fines JPMorgan for Weak Controls Over Fiduciary Activities

By Editors | 29/11/2020

The deficiencies identified by the OCC constituted unsafe or unsound practices that were part of “a pattern of misconduct”, says the consent order.

Securities / Derivatives

TFEX Announces Launch of Japanese Rubber Futures Contract

By Editors | 29/11/2020

The cash-settled rubber futures contract will use the Osaka Exchange’s RSS3 futures delivery prices as settlement prices on the Thailand Futures Exchange.

Market Infrastructure

Indonesia Prepares to Launch Sovereign Wealth Fund

By Manesh Samtani | 29/11/2020

Indonesia will need to pay particular attention to the governance of the new fund, as Malaysia’s 1MDB scandal still looms large in the minds of global investors.

Market Infrastructure

DSB Calls for Asian Members to Join Product Committee

By Editors | 29/11/2020

The DSB seeks to expand its Product Committee membership to include more OTC derivatives users from Asia to further broaden industry collaboration geographically.

Market Infrastructure

CFTC Adopts Rule Changes to Facilitate Foreign Swaps Clearing

By Editors | 29/11/2020

The CFTC has extended no-action relief for non-US swap dealers from reporting requirements, and finalised rules for exempting non-US clearinghouses from registration requirements.

AML / KYC

FTSE Russell, MSCI Consult on Impact of China Sanctions

By Manesh Samtani | 26/11/2020

FTSE Russell is seeking views on the impact of the sanctions on its indexes. MSCI is asking about the impacts on investment processes.

Securities / Derivatives

HKEX Outlines Derivatives Market Enhancements for 2021

By Editors | 26/11/2020

Market participants who plan to trade or clear selected derivatives contracts during Hong Kong public holidays will be asked to demonstrate technical readiness.

Capital / Liquidity

CBIRC Finalises Enhanced Rules for Trust Companies

By Editors | 26/11/2020

The new rules will take effect on 1 January, strengthening requirements for shareholders, managers and independent directors of trust companies.

Enforcement

SFC Bans Ex Sun Hung Kai Account Exec Over Discretionary Trading

By Editors | 26/11/2020

The former licensed representative effected transactions in two clients’ accounts on a discretionary basis without obtaining prior written authorisations or senior management approval.