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Structural Regulation
Indonesia to Ease Rules on Bank Mergers, Including for Foreign FIs
By Editors | 06/08/2019
The rules currently require acquiring banks to merge all their local operations into a single entity, but this has proved unpopular among foreign lenders seeking to expand Indonesia operations.
Trading & Investment
SEBI Proposal Stricter Rules for Portfolio Managers
By Editors | 06/08/2019
SEBI proposes a higher net worth requirement, a higher minimum investment, and standardised performance reporting for portfolio managers, among other changes.
Structural Regulation
Morgan Stanley, JP Morgan Take Control of China JVs
By Editors | 06/08/2019
Morgan Stanley has become the latest foreign firm to control a securities JV in China, while JP Morgan becomes the first foreign firm to own a majority stake in an asset management JV.
Conduct, Culture & Accountability
RBI Tightens Criteria for Board Appointments at State Banks
By Editors | 05/08/2019
The revised criteria for determining the ‘fit and proper’ status of proposed candidates include age, education, experience, and track record, among other criteria.
Trading & Investment
SSE, SZSE Set to Allow Trading in HK-Listed Dual Class Shares
By Editors | 05/08/2019
The Shanghai and Shenzhen stock exchanges are consulting on rule changes that will allow Chinese investors to trade Hong Kong-listed dual-class shares via Stock Connect.
Conduct, Culture & Accountability
Australia: NAB, EY Under Fire Following Whistleblower Leak
By Editors | 05/08/2019
A whistleblower has leaked internal NAB documents to highlight the bank’s lax approach to risk management, customer remediation, and conflicts of interest with its auditor.
Trading & Investment
SEBI Seeks Uniform Penalties Framework for Margin Reporting Failures
By Editors | 03/08/2019
Fines charged to members for misreporting or non-reporting of margins collected from clients may extend to 100% of the incorrectly or nonreported amount.
Structural Regulation
Singapore: Two-Thirds of Consumers Willing to Try Digital Banks
By Editors | 03/08/2019
A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.
Cryptocurrency
Global Crypto Trading Should be Guided by IOSCO Principles: WFE
By Editors | 03/08/2019
“Innovation which has the potential to present systemic risk or is allowed to operate in an unchecked or unregulated manner is detrimental to financial markets and investor interests.”
Structural Regulation
IOSCO Urges Market Participants to Move to RFRs ‘Now’
By Editors | 02/08/2019
IOSCO says early transition to risk free rates will help to mitigate potential financial stability and conduct risks associated with the transition away from LIBOR.
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