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Structural Regulation
FSB, IOSCO Issue Statements in Support of Smooth LIBOR Transition
By Editors | 02/06/2021
The FSB warns against waiting for the development of forward-looking term RFRs. IOSCO urges market participants to stop issuing new LIBOR products.
Conduct, Culture & Accountability
RBI Penalises HDFC Over Sale of Non-financial Products
By Editors | 02/06/2021
HDFC violated rules that prohibit banks from entering into any business unrelated to financial services.
Market Data & Technology
IHS Markit Starts Publishing New Credit-sensitive Rates
By Editors | 02/06/2021
The new rates are aimed at helping to facilitate the transition away from LIBOR for firms that want a term rate with credit sensitivity.
Structural Regulation
Japan Considers Allowing SPAC Listings – Report
By Editors | 02/06/2021
Japan may allow SPAC listings on its markets as part of its growth strategy as early as next year.
Structural Regulation
Australia Considers Additional Rules for Litigation Funders
By Ranamita Chakraborty | 02/06/2021
The government will consider capping fees and the introduction of a minimum rate of return for class action members.
Trading & Investment
PBOC Issues Guidance on USD Loans Ahead of LIBOR Cessation
By Manesh Samtani | 02/06/2021
Guidance was issued on the terms that should be included in new and old contracts referencing USD LIBOR as well as in new contracts referencing SOFR.
Conduct, Culture & Accountability
CBIRC Issues Final Rules on Evaluating Bank Director Performance
By Sanday Chongo Kabange | 02/06/2021
The new rules, effective 1 July, will strengthen and standardise performance evaluations of directors and supervisors of banks and insurers, the CBIRC said.
Structural Regulation
CSRC Implements ‘Whitelist’ System for Securities Sector
By Editors | 02/06/2021
The 29 firms that have entered the “white list” will receive lower levels of supervisory scrutiny and be allowed greater flexibility in their business processes.
Trading & Investment
Hong Kong, Shanghai Announce First ETF Cross-Listings
By Editors | 02/06/2021
The ETF cross-listing mechanism provides Chinese investors another avenue to access the Hong Kong market besides Stock Connect.
Market Abuse
ASIC Outlines Expectations on Activist Short Selling
By Manesh Samtani | 02/06/2021
Activist short selling can have a positive impact on market integrity, however it can also unduly distort the price of a target entity’s securities, ASIC says.
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