MARKET INFRASTRUCTURE

Market Infrastructure

EU Council Agrees to Implement Global Minimum Tax

By Editors | 19/12/2022

The 15% corporate minimum tax rate is expected to be transposed into EU wide rules by end-2023 and prompt other countries to speed up efforts to implement the measure.

Market Infrastructure

FSB Offers LIBOR Transition Update, Warns of ‘Residual Risks’

By Manesh Samtani | 19/12/2022

Regulators continue to express concerns that the use of Term SOFR and credit sensitive rates could draw away liquidity from the overnight SOFR derivatives markets.

ESG / Sustainability

Japan Finalises Code of Conduct for ESG Data Providers

By Manesh Samtani | 19/12/2022

The FSA is now calling on ESG evaluation and data providers to endorse the code of conduct, publish it on their websites, and notify the regulator.

Securities / Derivatives

HKEX Proposes to Further Expand Paperless Listing Regime

By Editors | 19/12/2022

Paperless initiatives announced since 2020 have improved efficiency and lowered costs for issuers, HKEX says, proposing changes to further simplify its administrative procedures.

Securities / Derivatives

ICE Opens Access Centres in Hong Kong, Shanghai, Tokyo

By Editors | 18/12/2022

ICE says the enhanced connectivity includes ultra-low-latency access to exchanges in Hong Kong, Shanghai and Tokyo.

Market Infrastructure

Japan to Raise Taxes on Wealthy Individuals, Corporations

By Mark Johnston | 18/12/2022

Taxes will be raised on those who earn over JPY 3 billion through stocks and real estate. A corporate surtax of 4 to 4.5 percent will also be adopted.

Market Infrastructure

US SEC Proposes Major Rule Changes to Improve Market Fairness

By Editors | 18/12/2022

The proposals include a new best execution regulatory framework, a new order competition rule, and requirements for brokers to provide better disclosures on execution quality.

Capital / Liquidity

PBOC Issues Draft Regulations for Financial Infrastructures

By Editors | 17/12/2022

The regulations cover registration and custody systems, clearing and settlement, trading facilities, transaction reporting databases, important payment systems, and credit reporting systems.

AML / KYC

Singapore Releases Blueprint to Combat Ransomware Attacks

By Mark Johnston | 17/12/2022

The blueprint includes recommendations to discourage ransomware payments and make it mandatory for organisations to report such payments.