Markets & Infrastructure

Payments & Settlements

SEBI Blocks Cash Payments To Stock Brokers

By Garima Chitkara | 16/07/2018

Stock brokers are no longer allowed cash payments either directly or deposited into their bank accounts, as India aims to promote digital payments and a cashless economy.

Clearing & Post-Trade

ESMA Seeks Extension of Intragroup Clearing Exemption

By Garima Chitkara | 16/07/2018

In intragroup transactions involving a third country entity, ESMA is seeking to extend its temporary clearing exemption for derivatives transactions.

Clearing & Post-Trade

SGX to Roll Out Central Clearing for Bilateral OTC FX Derivatives

By Garima Chitkara | 16/07/2018

Singapore Exchange to launch trading solutions allowing privately negotiated OTC FX trades to be cleared like standard FX futures; launch set for 27 August encompassing five currency pairs, including USD/CNH.

Structural Regulation

Brexit Shifts Regulatory Powers to Continental Europe

By Peter Guy | 16/07/2018

The UK government’s Brexit white paper reveals disappointing support for London’s global role in financial regulations. London could be disintermediated as a financial centre.

Data Privacy

India Proposes to Relax Payments Data Onshoring Rules

By Emma Zhou | 16/07/2018

New proposal would allow international payments firms to store data offshore while only maintaining a copy in India, following lobbying effort by MasterCard, Visa and American Express.

Structural Regulation

FSC Eases Listings for Taiwan Owned Foreign Companies

By Emma Zhou | 13/07/2018

New rules to attract overseas companies to list in Taiwan include the removal of a profitability requirement and a shortening of the FSC’s listing application review process.

Conduct, Culture & Accountability

AMP Warns Financial Advisers on Licences Amid ASIC Investigation

By Garima Chitkara | 12/07/2018

ASIC has launched a civil action against AMP for misconduct in its financial planning arm causing the firm to put 300 of its financial planners on notice that their licences may be discontinued.

Conduct, Culture & Accountability

MAS Proposes Amendments to Misconduct Reporting Regime

By Garima Chitkara | 12/07/2018

Proposed changes aim to provide greater clarity on requirements and reduce errors in the submission of misconduct reports; reference checks to be mandatory when recruiting staff.

Structural Regulation

Shift from London Financial Centre Gains Pace

By Peter Guy | 12/07/2018

With nine months to go before Britain’s scheduled exit from the EU, the effects of Brexit are largely unknown and will take years to resolve. Yet, banks and asset managers have already begun planning for the relocation of staff and offices as the continent clarifies its financial regulations.