Securities / Derivatives

Securities / Derivatives

CBIRC Allows Banks to Offer Debt-to-equity Products to Investors

By Editors | 07/05/2020

Banks have already been using bond issuances and their own capital to carry out debt-to-equity swaps since 2016. They will now be allowed to offer these assets directly to investors.

Securities / Derivatives

Singapore: HSBC Seeks Court Order to Replace ZenRock Management

By Editors | 07/05/2020

ZenRock is the latest Singapore commodities trader to come under scrutiny, for allegedly using the same cargo to secure financing from multiple banks.

Enforcement

Australia: Pershing Pleads Guilty to Breaching Client Money Rules

By Editors | 07/05/2020

Pershing Securities Australia, a BNY Mellon subsidiary, is the first company in Australia to face criminal prosecution for breaching client money provisions.

Securities / Derivatives

US SEC Green-lights Launch of New Stock Exchange, MEMX

By Editors | 07/05/2020

Backed by some of Wall Street’s largest financial institutions, MEMX says it will offer a less expensive exchange model; fewer, less complex order types; and a basic market data feed.

Capital / Liquidity

S. Korea Defers Initial Margin Requirements by One Year

By Editors | 06/05/2020

The move is in line with the BCBS-IOSCO decision announced in April, and will help to ease the compliance burden on financial institutions amid the Covid-19 crisis.

Securities / Derivatives

FSC Designates Six Brokers to Specialise in SME Investment

By Editors | 06/05/2020

The designation will be valid for two years, allowing the brokers to receive preferential policy incentives for boosting investment in SMEs.

Securities / Derivatives

Singapore Allows Electronic Dissemination of Offer Documents

By Editors | 06/05/2020

Electronic dissemination will enable rights issues and takeover or merger transactions to take place while reducing the need for staff to be physically present at workplaces.

Enforcement

SEBI Initiates Probe into Franklin Templeton Fund Closures

By Editors | 06/05/2020

SEBI is reported looking to determine whether the firm violated rules, breached its fiduciary duty, or failed to act in investors’ best interests.

Market Infrastructure

Industry Bodies Request Margin Exemption Extensions under EMIR

By Manesh Samtani | 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.