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Payments & Settlements
BNM Issues Draft Rules on Merchant Acquiring Services
By Editors | 22/07/2020
The exposure draft sets out regulatory requirements for merchant acquiring services to ensure proper risk management amid rapid changes in the e-payments landscape.
Conduct, Culture & Accountability
ASIC Commences Civil Penalty Proceedings Against FX Firm
By Sanday Chongo Kabange | 22/07/2020
Forex Capital Trading and its sole director allegedly used high pressure sales tactics, false or misleading statements, and conflicted remuneration to maximise trading volume and client deposits.
Market Data & Technology
Refinitiv Launches Term SONIA Reference Rate Prototype
By Editors | 22/07/2020
Refinitiv’s announcement follows the launch of a beta version of term SONIA reference rates by ICE Benchmark Administration earlier this month.
Cybersecurity
FSC Korea Targets Fair Competition, Data Safeguards for Financial Sector
By Editors | 22/07/2020
FSC chairman Eun Sung-soo is eyeing regulatory reforms to ensure fair competition, data security, and consumer protection as bigtechs enter financial services.
Structural Regulation
Singapore: ACRA Proposes Amendments to Companies Act
By Editors | 22/07/2020
An ACRA working group recommends reforms to facilitate digitalisation, review financial reporting requirements, and safeguard shareholders’ interests, among other proposals.
Trading & Investment
SEBI to Phase In Stricter Stock Trading Margin Norms From December
By Editors | 22/07/2020
The new rules are expected to severely impact intra-day stock trading, which accounts for about 90% of the market volumes in India.
Structural Regulation
SGX, Nasdaq Agree to Streamline Dual Listing Process
By Editors | 21/07/2020
Under the agreement, information previously filed with the US SEC or Nasdaq can be used to fulfil documentary requirements for a dual listing in Singapore.
Structural Regulation
Malaysia Introduces Enhanced IPO Framework for Main Market
By Editors | 21/07/2020
The new framework will introduce a mandatory holistic consultation process, a longer exposure period for the draft prospectus, and a more liberal principal adviser regime.
Market Data & Technology
Bloomberg Begins Publishing IBOR Fallback Rates for Derivatives
By Editors | 21/07/2020
The calculations being published include the adjusted RFRs, the spread adjustment and the ‘all in’ IBOR fallback rates for certain key IBORs across various tenors.
Structural Regulation
CSRC Updates Rules for Managing Margin Deposits for Futures
By Editors | 21/07/2020
The revisions strengthen the obligations of depository banks and futures companies in managing margin deposits for futures trading, and clarify that the same rules apply for overseas participants.
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