Markets & Infrastructure

CBDCs

CBDCs Could Amount to ‘Sea Change’ for Payments: BIS

By Manesh Samtani | 24/06/2020

Covid-19 has highlighted unequal access to payment services for low-income and vulnerable groups. CBDCs present an opportunity to address this shortcoming.

Trading & Investment

BSE India Launches World’s First Almond Futures

By Editors | 24/06/2020

The new contract will enable transparent price discovery, ease trade for buyers and sellers, and allow producers and importers to hedge price risk.

Supervision & Enforcement

ASIC Seeks Penalties from CBA, Colonial First State

By Editors | 24/06/2020

Colonial First State is said to have used CBA’s branches and digital channels to sell superannuation products to more than 390,000 bank customers under a revenue-sharing arrangement.

Structural Regulation

UK to Grant FCA Additional Powers to Facilitate LIBOR Retirement

By Editors | 23/06/2020

Legislative amendments will empower the FCA to prohibit or limit the use of LIBOR, or to direct a change in its methodology, to address the issue of ‘tough legacy’ contracts.

Structural Regulation

India to Restrict Foreign Ownership of Pension Funds

By Editors | 23/06/2020

Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.

Structural Regulation

Bangladesh Bank Eases Foreign Investor Repatriation Policy

By Editors | 23/06/2020

Remittances of share sale proceeds to non-resident foreign investors no longer need prior approval from the central bank if pricing is determined based on the net asset value approach.

Trading & Investment

‘Time is Ripe’ for Hong Kong to Launch A-share Derivatives: CSRC

By Manesh Samtani | 23/06/2020

CSRC vice chairman Fang Xinghai says the launch of A-share based financial derivatives will bolster Hong Kong as an international financial centre, while also benefitting China’s capital markets.

Structural Regulation

ASX Calls for Reforms Around Class Actions, Litigation Funding

By Editors | 22/06/2020

The benefit of securities class actions may disproportionately benefit litigation funders rather than plaintiffs in those proceedings, with the costs falling on the shareholders, ASX says.

Structural Regulation

China to Ease Rules on Foreign Strategic Investment in Listed Companies

By Editors | 22/06/2020

The revisions lower foreign investor asset requirements, reduce the lock-up period from three years to 12 months, and expands investment channels to include IPOs and tender offers.