Markets & Infrastructure

Structural Regulation

CSRC Approves Credit Suisse Majority Control of Securities JV

By Editors | 20/04/2020

The approval allows Credit Suisse to raise its stake in a joint venture with Founder Securities from 33.3% to 51%, making it the latest foreign firm to gain majority control of a domestic brokerage in China.

Trading & Investment

SFC Seeks Certainty on ETF Market Making Continuity

By Editors | 18/04/2020

ETF management companies should procure more than one market maker, or secure arrangements for alternative market makers to quickly step in if there is a disruption.

Structural Regulation

MAS, ESMA Sign MOU on Singapore’s Financial Benchmarks

By Editors | 18/04/2020

The MOU and last year’s equivalence decision from the European Commission ensure that FIs in the EU can continue using SIBOR and the SOR as reference rates in their contracts.

Liquidity Risk

Bank Indonesia Cuts RRR, Prepares to Buy Govt Bonds

By Editors | 18/04/2020

The measures include a 200bp RRR cut for banks and a 50bp cut for Islamic banks. The central bank may also start buying government bonds in the primary market in two weeks.

Structural Regulation

Japan Extends Deadlines for Filing Securities Reports, Holding AGMs

By Editors | 18/04/2020

Japan’s FSA has extended the submission deadline for corporate securities reports to the end of September, while companies are being encouraged postpone annual shareholder meetings or hold them virtually.

Trading & Investment

Malaysia SC Announces Capital Market Measures to Support Businesses

By Editors | 17/04/2020

The measures include relief for publicly listed companies from PN17 (financial distress) classification, even if they fall below certain regulatory thresholds.

Conduct, Culture & Accountability

Australian Court Upholds ASIC Product Intervention Order

By Editors | 16/04/2020

ASIC’s product intervention order prohibiting payday lenders to charge additional fees under separate contracts through associates remains in force.

Liquidity Risk

BOK to Launch New Loan Programme for Brokers, Insurers

By Editors | 16/04/2020

Under the programme, corporate bonds rated AA or higher are eligible as loan collateral, a major shift for the BOK which has traditionally only bought government debt.

Trading & Investment

ASIC Updates Guidance on Active ETF Internal Market Making

By Editors | 16/04/2020

Active ETFs are asked to rely on publicly available information for market making quotes, and to establish internal information barriers.