Markets & Infrastructure

Trading & Investment

ARRC Publishes Spread-Adjusted Fallback Recommendations

By Editors | 12/10/2021

The document provides a reference point for market participants to understand the ARRC’s current recommendations in relation to its fallback language.

Emerging Prudential Risks

FSB Reports Progress on NBFI Risks, Cross-border Payments

By Editors | 12/10/2021

A letter to the G20 ministers from the FSB focuses on work to develop a more resilient NBFI sector and address challenges in cross-border payments.

Trading & Investment

HKMA, SFC Outline Expectations on Sale of ILS Products

By Manesh Samtani | 11/10/2021

The circular follows the $30mn issuance of Hong Kong’s first catastrophe bond by Greater Bay Re, a state-sponsored special purpose vehicle.

Trading & Investment

IBA Publishes ‘Beta’ Rates for SOFR Interest Rate Swaps

By Editors | 11/10/2021

The new rates will assist the non-linear market in its transition to SOFR, IBA said. Currently they are being published solely for information and illustration purposes.

Trading & Investment

HKFE Obtains CFTC Certification for A-share Futures

By Editors | 11/10/2021

The new contract will commence trading next week. The certification means it can be offered and sold to persons in the US.

Structural Regulation

New Zealand FMA Censures Derivatives Issuer FIRMA NZ

By Editors | 11/10/2021

Firma NZ failed to conduct product suitability tests for clients and to regularly provide statements to investors. The contraventions were “persistent and systemic”.

Conduct, Culture & Accountability

Australia: Industry Bodies Call for Expansion of CSLR

By Editors | 11/10/2021

15 organisations call for the compensation scheme of last resort to include product providers, managed investment schemes and the funeral expenses industry.

Emerging Prudential Risks

BSP Proposes Prudential Requirements for Digital Banks

By Editors | 11/10/2021

The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.

Cloud & Infrastructure

S. Korea to Tighten Rules for Bigtechs in Financial Services

By Sanday Chongo Kabange | 11/10/2021

FSS governor Jeong Eun-bo said regulators will seek to enable fair competition between digital platform providers and financial companies.