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Clearing & Post-Trade
ISDA Welcomes Libor Pre-cessation Clarity from FCA, IBA
By Editors | 29/01/2020
The FCA has clarified that any period of non-representative LIBOR based on reduced panel bank submissions could last for only a period of months, not years.
Trading & Investment
SEC Philippines Drafts Derivatives Investment Rules for Funds
By Editors | 29/01/2020
The global exposure to financial derivatives must not exceed 20% of the qualifying fund’s net assets, up from 10% previously.
Structural Regulation
SEBI Panel Proposes Tighter Norms for Related Party Transactions
By Editors | 29/01/2020
Any member of the promoter group would be deemed a related party regardless of shareholding. Any shareholder with more than 20% of a listed company’s shares would also be deemed a related party.
Structural Regulation
S. Korea: P2P Lending Law to Take Effect in August
By Editors | 29/01/2020
The FSC is seeking comment on a draft enforcement decree setting out entry requirements, operating rules and investor protection measures for the P2P lending sector.
Payments & Settlements
Singapore’s Payment Services Act Comes Into Force
By Manesh Samtani | 28/01/2020
The PS Act gives MAS formal supervisory powers over technology, cybersecurity and AML/CFT controls at payment services firms, including cryptocurrency and e-wallet companies.
Conduct, Culture & Accountability
Australia to Decide on Removal of ‘Conflicted’ Stamping Fees
By Editors | 28/01/2020
Fund managers have been paying ‘conflicted’ up-front commissions to financial advisers and brokers under a 2014 exemption, which ASIC says has resulted in worse investment returns.
Trading & Investment
BSE India Signs Licensing Agreement with ICE Futures Europe
By Editors | 28/01/2020
BSE India is using the ICE Brent Index as the final settlement price for its new rupee-denominated Brent futures contract, which launched on Tuesday.
Clearing & Post-Trade
SEBI Prescribes New Margin Framework or Commodity Derivatives
By Editors | 28/01/2020
Clearing corporations are asked to categories commodity derivatives as low, medium and high risk, and to set new IM and MPOR floors.
Structural Regulation
KRX to Cap KOSPI 200 Single Stock Weighting at 30pc
By Editors | 27/01/2020
Institutional investors who mirror the KOSPI 200 index may need to offload an estimated 500-800bn won worth of Samsung Electronics shares to rebalance their portfolios.
Conduct, Culture & Accountability
NAB Units Face Class Action for Mismanaged Superannuation
By Editors | 27/01/2020
The case will focus on NAB’s alleged failure to transfer A$6.3mn of accrued default amounts to MySuper in a timely fashion, as required by law.
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