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Trading & Investment
HKMA Asks Banks to Bolster Corporate Awareness of LIBOR Cessation
By Editors | 13/07/2021
Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.
Conduct, Culture & Accountability
ABA Commissions Review of Banking Code of Practice
By Ranamita Chakraborty | 13/07/2021
The review seeks input on whether CDR laws provide adequate data protection and how effective the Code has been in supporting consumers during Covid-19.
CBDCs
Multilateral Collaboration Essential for CBDC Development
By Editors | 13/07/2021
A new report from CPMI, BIS Innovation Hub, the IMF and the World Bank highlights the need for multilateral collaboration and interoperability between CBDCs.
Trading & Investment
Korean Won Futures Set for Launch on Eurex-KRX Link
By Editors | 12/07/2021
The listing of USD/KRW Futures on the KRX-Eurex link will allow for continuous trading during Asian, European and North American market hours.
Structural Regulation
SEBI Proposes Tweaks to Dual Class Shares Framework
By Editors | 12/07/2021
SEBI proposes to allow superior voting rights shares to be issued to trusts and other corporate structures and to tweak other requirements.
Structural Regulation
HKEX Establishes Mainland China Advisory Group
By Editors | 12/07/2021
The new Advisory Group will advise the HKEX board on the development of China’s financial markets and economy.
Conduct, Culture & Accountability
Australian Court Set to Impose First Sentences Over Bad Audits
By Editors | 11/07/2021
EC Audit and its former director are the first auditors in Australia to face criminal prosecution for failure to comply with auditing standards.
Trading & Investment
Indonesia Launches First Electronic Market for Rupiah Trading
By Ranamita Chakraborty | 11/07/2021
The launch of Refinitiv’s Matching trading system is expected to increase liquidity, efficiency and price transparency.
Structural Regulation
RBI Urges Banks to Stop Using LIBOR, MIFOR
By Manesh Samtani | 11/07/2021
FIs are asked to instead use ‘any widely accepted ARR’. Currently, there is no consensus on a new ARR for India. SOFR is widely expected to be accepted.
Structural Regulation
NZ FMA Cancels Fund Manager Licence for ‘Material’ Breaches
By Editors | 11/07/2021
Fund Managers Otago incorrectly calculated and disclosed returns in fund updates and entered into prohibited related party transactions, among other breaches.
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