Markets & Infrastructure

Structural Regulation

FSC Korea Targets ASEAN Expansion in Financial Hub Plan

By Editors | 18/05/2020

A new three-year plan to establish Korea as a financial hub involves regulatory reforms to promote innovation, enhance domestic infrastructure, and build its ASEAN presence.

Structural Regulation

BOK Asks FIs to Get Ready for LIBOR Roadmap Release

By Editors | 18/05/2020

A subgroup of the Benchmark Rate Reform Task Force is in the process of drafting a LIBOR transition roadmap to ensure that Korean FIs can use alternative rates starting from 2022.

Cryptocurrency

MAS Sets Out Regulatory Approach for Payment Token Derivatives

By Editors | 18/05/2020

MAS will regulate payment token derivatives offered by approved exchanges – i.e. SGX Derivatives, APEX, Ice Futures – but will not regulate such products offered by other entities.

Payments & Settlements

EU Banking Bodies Request Delay of T2-T2S Consolidation Project

By Manesh Samtani | 17/05/2020

The associations have cited impacts from Covid-19 and SWIFT’s decisions to delay ISO 20022 migration for cross-border payments as the primary reasons for the requested delay.

Trading & Investment

Hong Kong Lowers Transaction Costs for ETF Market Makers

By Editors | 16/05/2020

An amendment waives stamp duties on primary market stock transfers involving ETF market makers’ activities to create and redeem ETF units.

Structural Regulation

Australian Makes Tax Relief for Merging Super Funds Permanent

By Editors | 16/05/2020

Financial Services Council chief Sally Loane welcomed the move, but expressed disappointment with changes that may create another tax compliance burden for managed funds.

Structural Regulation

SEBI Relaxes Public Shareholding Requirement for Listed Entities

By Editors | 16/05/2020

The move will mean promoters with more than 75% shareholding in a listed company will not have to divest their holdings while the current challenging environment persists.

Capital Adequacy

SFC Declines to Take Action Against HSBC for No-dividend Decision

By Editors | 15/05/2020

Some investors in HSBC alleged the bank failed to safeguard their interests. Others questioned whether the bank’s discussions with the Bank of England were disclosed in a timely manner.

Model Risk

CCP Margin Models May Need Fine-tuning: BIS Paper

By Editors | 15/05/2020

Some CCP margin models underestimate market volatility because they rely on a short period of historical price movements from tranquil times, the paper says.