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Structural Regulation
SEBI Revises Eligibility Rules for Regulatory Sandbox
By Sanday Chongo Kabange | 16/06/2021
SEBI-registered entities can apply to the sandbox in partnership with other entities. Eligibility requirements are set out for two stages of sandbox testing.
Fraud, Scams & Cybercrime
Hin Leong Files Suit Against Deloitte Over Auditing Failures
By Ranamita Chakraborty | 16/06/2021
The lawsuit claims Deloitte would have detected material misstatements and not issued unqualified opinions if its audits were carried out properly.
Trading & Investment
OCBC Obtains Approval to Convert LIBOR Bonds to SONIA
By Ranamita Chakraborty | 16/06/2021
OCBC has become the first Singapore bank to obtain approval from bondholders to replace GBP LIBOR with SONIA as the interest rate benchmark.
Conduct, Culture & Accountability
MAS Reprimands Four FIs Over Remuneration Practices
By Sanday Chongo Kabange | 15/06/2021
Two insurers, two financial advisory firms, and two individuals were reprimanded over breaches related to their risk management arrangements and remuneration practices.
Structural Regulation
China Passes Law Establishing Hainan as Free Trade Port
By Sanday Chongo Kabange | 15/06/2021
The law states that Hainan will implement a “minimalist” investment approval system and create an “open, transparent, and predictable investment environment”.
Conduct, Culture & Accountability
Japan FSA Considers Sanctioning Mizuho for System Glitches
By Ranamita Chakraborty | 15/06/2021
A new report from a third-party committee has attributed the bank’s system failures to poor corporate culture within Mizuho Financial Group.
Clearing & Post-Trade
KRX to Launch Trade Compression Services This Year
By Editors | 15/06/2021
KRX has amended its OTC derivatives clearing and settlement rules to provide the legal basis for the introduction of trade compression services.
Structural Regulation
CSRC Approves Launch of Daiwa Securities Joint Venture
By Editors | 15/06/2021
Daiwa Securities (China) Co will be able to provide brokerage and securities underwriting services. Operations will commence soon.
Credit Risk
Credit Risk, Shadow Banking Present Ongoing Concerns: CBIRC
By Editors | 15/06/2021
CBIRC chairman Guo Shuqing has highlighted credit risk, shadow banking, illegal fundraising, and derivatives trading as key sources of financial system risk.
Payments & Settlements
BNM Sets Out New Draft Policy for E-Money Issuers
By Manesh Samtani | 14/06/2021
The exposure draft proposes to impose additional requirements including on capital for e-money issuers that have “substantial market presence”.
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