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Conduct, Culture & Accountability
ASIC Plan to Embed Staff Could Impede Banking Function
By Peter Guy | 13/08/2018
ASIC’s plan to embed its own staff as officers at major Australian banks will affect risk taking and how the Australian public is served by the financial services industry.
Clearing & Post-Trade
CFTC to Simplify Registration Exemption Process for non-US Clearing Firms
By Editors | 10/08/2018
CFTC proposal seeks to make it easier for non-US firms to navigate the process for obtaining exemptions from registration as derivatives clearing organisations.
Structural Regulation
Singapore Adopts Revised Corporate Governance Code
By Garima Chitkara | 09/08/2018
New code is based on recommendations by the Corporate Governance Council and focuses on strengthening board independence and diversity; SGX has incorporated the new code in its listing rules.
Trading & Investment
China Approves Asset Managers to Offer Target Pension Products
By Editors | 09/08/2018
Fourteen asset managers have received approval to launch pension target funds, which will improve A-share liquidity and offer consumers more pension management alternatives.
Market Abuse
Shanghai Bourse to Move to Closing Auction Mechanism
By Garima Chitkara | 09/08/2018
New call auction mechanism expected to reduce equity market price manipulation will go into effect on 20 August and also apply to transactions on the Hong Kong-Shanghai Stock Connect.
Payments & Settlements
Indonesia Discontinues JIBOR In Favour of Market-based Indonia
By Garima Chitkara | 09/08/2018
Indonesia’s central bank has announced a new market-based overnight rate to replace its current interbank offer rate to boost reliability of the rates and policy transmission.
Conduct, Culture & Accountability
Fees-for-no-service Remediation to Top A$850mn – ASIC
By Manesh Samtani | 09/08/2018
CBA has paid or offered compensation over A$118 million so far, with over A$25 million more provisioned for future compensation.
Trading & Investment
India’s Brokers Move Against Tax on Physically-Settled Equity Derivatives
By Garima Chitkara | 09/08/2018
Brokers’ lobby is asking the Bombay High Court for a resolution on an impasse between market participants and the NSE over a decision to levy a 0.1% tax on physically settled equity derivatives.
Fraud, Scams & Cybercrime
Chinese Alternative Asset Managers Dissolve in Record Number
By Manesh Samtani | 09/08/2018
The Asset Management Association of China says in the first half of 2018, 163 private fund institutions have failed to renew their registration status with the association every three months as required.
KYC & CDD
PBOC Imposes More Fines on Payments Firms
By Editors | 09/08/2018
Alipay, Union Mobile Financial Technology, and Gopay.com were fined more than a combined $11 million for various breaches in payment services regulation.
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