Securities / Derivatives

Securities / Derivatives

SEBI Orders Faster Liquidation of Defaulting Brokers’ Assets

By Editors | 01/10/2020

Stock exchanges and clearing corporations should sell brokers’ securities if debit balances are not cleared in 5 days, and to sell other broker assets six months after the default.

Securities / Derivatives

Korea to Amend Law to Protect Private Equity Fund Investors

By Editors | 01/10/2020

The revisions will enhance oversight and risk assessment of private equity funds, and prevent illiquid funds from being marketed to retail investors.

ESG / Sustainability

First Chinese Sustainability Bond on Display at LuxSE’s Green Exchange

By Editors | 01/10/2020

The new $300mn issuance on display at LGX makes China Merchants Bank the first Chinese commercial bank to issue a sustainability bond.

Enforcement

CFTC Settles Charges Against Citi Over Deleted Audio Recordings

By Editors | 01/10/2020

Citi’s audio preservation system deleted more than 2.77 million audio files, including recordings that were subject to a December 2017 CFTC subpoena.

Market Infrastructure

CHESS Replacement ‘Critical’ to Manage Systemic Risk: RBA

By Editors | 01/10/2020

Replacing CHESS with more modern technology is critical to ASX’s ongoing management of systemic risk, said RBA assistant governor Michele Bullock.

Market Infrastructure

Hardware Failure Causes Full Day Closure at Tokyo Exchange

By Editors | 01/10/2020

The TSE apologised for inconvenience caused to investors and said it is replacing the faulty hardware. Trading is expected to resume Friday.

Enforcement

US Authorities Settle JP Morgan Spoofing Charges for $920m

By Editors | 01/10/2020

The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.

Market Infrastructure

SONIA Quoting Conventions to be Adopted in UK Swaps Market

By Editors | 01/10/2020

Interdealer brokers should base quotes in the sterling swaps market on SONIA rather than LIBOR from 27 October, the FCA and BOE say.

Securities / Derivatives

SFC Sets Minimum Period for Client Access to Trade Documents

By Editors | 01/10/2020

Intermediaries have one year to align the minimum online retrieval period of their posted trade documents with the new requirements.