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Market Risk
EFS Reporting for Derivatives to Start in Q3 2020: APRA
By Editors | 23/11/2019
APRA has determined that only ANZ, BNP Paribas, Citibank, CBA, Deutsche Bank, HSBC, JP Morgan, Macquarie, MUFG, NAB, Sumitomo Mitsui and Westpac will be required to report under ARS 722.0.
Trading & Investment
SEBI Approves New Rules for Portfolio Managers
By Editors | 23/11/2019
Among the rules are a higher net worth requirement for portfolio managers, a doubling of the minimum investment requirement for PMS funds, and mandatory appointment of a custodian.
Structural Regulation
Bursa Malaysia to Restructure, Giving Greater Oversight to CEO
By Editors | 23/11/2019
The existing business leadership team will report directly to the CEO following the restructuring. The new structure becomes operational in January.
Structural Regulation
ACCC Authorises ABA Changes to Banking Code of Practice
By Editors | 23/11/2019
The ACCC’s authorisation was needed because changes to the Code to reflect the royal commission recommendations required competing banks to reach an agreement through the ABA.
Conduct, Culture & Accountability
ANZ, Westpac Face Class Actions Just Days After NAB Settlement
By Editors | 22/11/2019
Law firm Slater and Gordon has launched class actions against ANZ and Westpac over the sale of consumer credit insurance products, on the heels of winning a near A$50m settlement from NAB.
Structural Regulation
Japan FSA Reviews Proposal to Reorganise Tokyo Bourse
By Editors | 22/11/2019
The proposal would recast the TSE’s existing boards into a “prime” market for blue chips, a “standard” market for mid-tier companies and a “growth” board for startups.
Conduct, Culture & Accountability
Aussie Banks Adopt Safeguards Against Unfair Debt Collection Practices
By Editors | 21/11/2019
The move comes after hundreds of vulnerable debtors who have had their homes put at risk in bankruptcy court this year over relatively small debts.
Cryptocurrency
MAS Consults on Regulatory Approach for Crypto Derivatives
By Garima Chitkara | 21/11/2019
The MAS has received indications of interest for bitcoin and ether derivatives, regulated under the SFA, to be made available to investors in Singapore.
Trading & Investment
FSB Urges ISDA to Embed LIBOR Pre-Cessation Trigger in Definitions
By Garima Chitkara | 21/11/2019
The FSB says a pre-cessation trigger should be added alongside a cessation trigger as standard language in definitions for both new and outstanding derivatives contracts.
Supervision & Enforcement
CBA’s CommInsure Faces A$1.85mn Penalty for Unsolicited Sales Calls
By Editors | 21/11/2019
The penalty will be in addition to the A$12mn CommInsure has said it will pay to 30,000 policyholders to remediate telephone sales conduct issues.
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