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Market Infrastructure
Australia Defers All Royal Commission Commitments by Six Months
By Editors | 09/05/2020
In line with the Treasury’s announcement, ASIC has deferred mortgage broker reforms and the introduction of product design and distribution obligations.
Market Infrastructure
HKMA Proposes Mandatory Reference Checks to Stop Rolling Bad Apples
By Manesh Samtani | 08/05/2020
Under the scheme, prospective employees would be required to disclose employment records to recruiting AIs before a new employment relationship is established.
Market Infrastructure
China Scraps QFII, RQFII Quotas; Simplifies Outbound Remittance Rules
By Editors | 08/05/2020
QFII and RQFII investors will merely need to go through a registration process to invest in China. Requirements on outbound remittances and currency exchange have also been simplified.
Market Infrastructure
EU Benchmark Equivalence Regime Not Scalable: ISDA, FIA
By Manesh Samtani | 07/05/2020
While the Associations welcome the legal approach taken, they highlight that the draft equivalence decision excludes the widely referenced Nikkei and JPX benchmarks.
Market Infrastructure
DBS Prices Singapore’s First SORA-based Floating Rate Notes
By Editors | 06/05/2020
DBS has priced the first floating-rate notes referencing SORA, identified last August as Singapore’s alternative interest rate benchmark to SOR.
Market Infrastructure
ECB Seeks Further Guidance from SWIFT on ISO 20022 Delay
By Editors | 06/05/2020
The request follows a March decision by SWIFT’s Board to extend the original timeline for implementation of ISO 20022 for cross-border payments by one year to end-2022.
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.
Fintech / Regtech
SGX, AMTD Enter Partnership on Capital Markets Development
By Editors | 05/05/2020
The partnership will seek to promote Singapore’s capital market development, strengthen regional connectivity, support businesses, and explore the use of DLT in bond issuance.
Market Infrastructure
HK Regulators Establish Green and Sustainable Finance Steering Group
By Editors | 05/05/2020
Initiated by the HKMA and SFC, the Steering Group will coordinate across other agencies and sectors to position Hong Kong as a global leader in green and sustainable finance.
Market Infrastructure
Korea Development Bank Act Amended to Enable Bailout Fund
By Editors | 05/05/2020
Aid recipients will have to maintain staff in employment and refrain from dividend payouts, share buybacks and executive compensation.
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