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Supervision & Enforcement
ASIC Launches Civil Proceedings Against Commonwealth Bank
By Editors | 17/03/2020
CBA said it intends to admit the allegations ASIC has made in each of the two cases, and does not intend to defend against the proceedings.
Payments & Settlements
RBI Intervenes to Provide US Dollar, Rupee Liquidity
By Editors | 16/03/2020
The RBI’s move to provide US dollar liquidity amid a sinking rupee had the unintended consequence of squeezing liquidity in its domestic currency.
Structural Regulation
MAS Revises Code on Collective Investment Schemes
By Manesh Samtani | 16/03/2020
The changes extend the requirements imposed on approved trustees and managers to VCCs, VCC directors and VCC custodians, while also introducing a best interest duty.
Structural Regulation
Hong Kong to Allow 60 Days Grace for Publishing Annual Reports
By Editors | 16/03/2020
Listed issuers may defer annual report publication for 60 days if they have published their preliminary results, management accounts or specified material financial information before 31 March.
Structural Regulation
Singapore Exchange Introduces S$5m Covid-19 Care Package
By Editors | 16/03/2020
S$1.5mn will be contributed to national healthcare-support programmes, while S$3.5mn will be used to support Singapore-listed companies and SGX employees and contract staff.
Trading & Investment
ASIC Directs Equity Market Participants to Limit Trading
By Editors | 16/03/2020
The move is a response to a particularly large increase in trades executed on Friday, largely attributable to algorithmic and high frequency trading.
Structural Regulation
BOJ, FSA Publish Findings on LIBOR Transition Progress
By Editors | 15/03/2020
About 50% of the 6.3 quadrillion yen in notional derivatives referencing LIBOR will mature after 2021, but “very few” contracts incorporate fallback provisions.
Trading & Investment
SET Tightens Short Selling Rule After Second Trading Halt
By Editors | 14/03/2020
Short selling orders can now only be executed at prices higher than the last traded price, the SET said after its circuit breaker was triggered for the second day in a row.
Trading & Investment
FSC Korea Imposes Complete Ban on Short-Selling for Six Months
By Editors | 14/03/2020
The FSC is also loosening rules on share buybacks and lifting minimum collateral coverage requirements for securities firms, while the BOK considers an interest rate cut.
Liquidity Risk
RBI to Provide Liquidity in Forex Market as Rupee Crashes
By Editors | 13/03/2020
The RBI will offer USD/INR sell/buy swaps to bolster FX market liquidity, as foreign investors withdraw from India amid growing concerns over Covid-19’s economic impact.
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