Markets & Infrastructure

Market Abuse

NZX Lacking in Market Surveillance Obligations – FMA

By Manesh Samtani | 02/07/2018

New Zealand FMA says information provided by NZX surveillance team was below its expectations and questions the market operator’s ability to detect misconduct; NZX to recruit additional resources to resolve the issue.

PEPs & Sanctions

SWIFT and the Death of Global Financial Regulations

By Peter Guy | 02/07/2018

Intense geopolitical rivalries and new technologies threaten a new Cold War by enabling weaponisation of the international payment system and disruption of the international financial order.

Conduct, Culture & Accountability

Hong Kong SFC Releases 2017-18 Annual Report

By Manesh Samtani | 02/07/2018

Highlights for the year include progress on MIC regime, guidance on online trading platforms, and regulatory collaboration with other agencies.

Conduct, Culture & Accountability

Communist Party Committees To Foster Risk Aversion at Chinese Banks

By Garima Chitkara | 28/06/2018

China’s regional and mid-tier banks are formally establishing Communist Party committees in support of the government’s bid to crackdown on excessive risk taking in the banking sector.

Trading & Investment

India Mulls Allowing Mutual Funds in Commodities Derivatives – Report

By Garima Chitkara | 28/06/2018

Market regulator SEBI discussing whether to allow retail investors to participate in commodity derivatives through mutual funds; may also allow derivatives based on commodity indices.

Clearing & Post-Trade

Hong Kong Finalises OTC Derivatives Framework

By Garima Chitkara | 28/06/2018

HKMA and SFC published conclusions from their March 2018 consultation on LEI requirements, reporting norms and platform trading.

Fraud, Scams & Cybercrime

S. Korea Investigates Three Banks for Loan Rate Manipulation

By Garima Chitkara | 28/06/2018

Citibank Korea, BNK Kyongnam Bank and KEB Hana Bank are being investigated by FSS over allegedly manipulating loan rates to overcharge retail borrowers.

Structural Regulation

SGX Introduces Dual Class Shares Structures

By Manesh Samtani | 28/06/2018

New rules on dual class shares will permit equal voting process on certain issues and cap multiple voting shares at 10 votes a share, with sunset clauses to auto-convert them to ordinary voting shares.

Data Privacy

Non-EU Markets Regulators Seek Formal GDPR Exemptions – Report

By Manesh Samtani | 28/06/2018

New EU data privacy law could put cross-border investigations in jeopardy, leading non-EU regulators including Japan’s FSA and Hong Kong’s SFC to press for formal clarification on application of cross-border information sharing exemptions.