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Market Abuse
Nomura, UBS, UniCredit Fined for Participating in Trading Cartel
By Editors | 24/05/2021
During Europe’s sovereign debt crisis, the banks shared information about their EGB bidding and trading strategies in Bloomberg terminal chat rooms.
Climate Risk
Korea Brokers Join Emissions Trading Scheme as Market Makers
By Editors | 24/05/2021
Participation by the brokerage firms as market makers will help reduce bid-ask spreads and keep Korea’s emissions trading market liquid.
Trading & Investment
CME Group to be Recommended as SOFR Term Rate Administrator
By Editors | 24/05/2021
A recommended SOFR term rate is now in clear sight, said Tom Wipf, ARRC Chairman and Vice Chairman of Institutional Securities at Morgan Stanley.
Structural Regulation
S. Korea Revises Law to Strengthen Market Integrity
By Editors | 24/05/2021
The revisions will ease approval processes for financial investment businesses, including foreign firms, while also increasing penalties for stock manipulation.
Clearing & Post-Trade
TDCC, Glass Lewis Announce Partnership on Proxy Reports
By Sanday Chongo Kabange | 24/05/2021
The initiative will enable the TDCC to provide Taiwan issuers with proxy research reports, which will help to enhance transparency for investors.
Structural Regulation
Taiwan Listed Companies Told to Postpone Shareholder Meetings
By Ranamita Chakraborty | 24/05/2021
A special regulation to combat Covid-19 will exempt Taiwan listed companies from requirements to hold shareholders’ meetings by end-June.
Trading & Investment
Hainan Unveils 3-Year Plan to Improve Investment Environment
By Sanday Chongo Kabange | 24/05/2021
The Hainan action plan encourages regional businesses to pursue financing by listing on both domestic and overseas exchanges.
Liquidity Risk
SGX RegCo Extends Suspension of Issuer Watch-List
By Editors | 24/05/2021
The extension is to enable issuers to focus on Covid-19 related business and economic challenges and on dealing with any resultant liquidity crunch.
Supervision & Enforcement
CBIRC Penalises Five Banks for Regulatory Violations
By Editors | 23/05/2021
Huaxia Bank, China Bohai Bank, Bank of China, China Merchants Bank and Bank of East Asia’s China branch were fined a total $56.9mn.
Supervision & Enforcement
CBIRC 2020 Penalties Show Emphasis on Personal Accountability
By Editors | 22/05/2021
The CBIRC issued $350mn in fines against 3,178 banks and insurance firms in 2020. The number of individuals punished rose by about 30% from 2019.
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