Securities / Derivatives

Enforcement

China to Improve Mechanisms for Handling Bond Defaults

By Editors | 28/12/2019

Proposals include mechanisms for early detection and investigation of bond disputes, higher penalties for repayment failures, and lower costs for investors exercising litigation rights.

Capital / Liquidity

Philippine Bourse Seeks Higher Capital Requirements for Brokers

By Editors | 26/12/2019

In the aftermath of a 700-million-peso stock theft, PSE president Ramon Monzon will reportedly propose to more than triple current capital requirements for older firms.

Securities / Derivatives

SEBI to End Usage of Pool Accounts for Mutual Fund Transactions

By Editors | 26/12/2019

SEBI found that trading and clearing members used by mutual funds were diverting client funds and securities to meet their own or third-party margin or settlement obligations.

AML / KYC

ISDA Calls For Guidance on Handling of Derivatives Impacted by Sanctions

By Editors | 25/12/2019

ISDA proposes 8 principles sanctions authorities can consider to ensure safe operation of markets, and minimise derivatives market disruption and economic consequences for non-sanctioned entities.

Securities / Derivatives

HKEX to Shorten IPO Settlement to Single Day

By Editors | 25/12/2019

HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.

Enforcement

SFC Fines Adamas Asset Management for Disclosure Failings

By Editors | 24/12/2019

The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.

Enforcement

CFTC Charges HSBC Exec with Manipulation, Fraud

By Editors | 24/12/2019

The former head of HSBC’s North American interest rates business allegedly manipulated prices for five-year basis swaps used to price a bond issuance and a related swap.

Securities / Derivatives

Japan Solicits Feedback on Revised Stewardship Code

By Editors | 24/12/2019

The changes add expectations that sustainability issues will be considered in the investment process, and introduce expectations for service providers.

Market Infrastructure

Amundi-BOC Wealth Management JV Wins CBIRC Approval

By Editors | 23/12/2019

The joint venture is expected to launch during the second half of 2020. Amundi will own a 55% stake while BOC Wealth Management will own the other 45%.