Markets & Infrastructure

Conduct, Culture & Accountability

SFC Fines Brokerage for Negligence During Share Placement

By Editors | 19/05/2023

China On Securities used incorrect prices in contract notes and transferred shares to placees without first requiring payment.

Structural Regulation

CSRC, PBOC Reduce Budget Allocations for Staff Salaries

By Editors | 19/05/2023

The changes are part of a drive to reduce income disparity as well as a broader overhaul of the financial regulatory system announced in March.

Tokenisation

GFMA Report Details How DLT Will Benefit Capital Markets

By Editors | 18/05/2023

The report calls for market participants to proactively shape the future use of DLT and for policymakers to provide greater regulatory clarity.

DeFi & Web3

BIS Paper Identifies Gaps in Regulatory Frameworks for Crypto

By Manesh Samtani | 18/05/2023

The paper says authorities should consider regulations for utility tokens, governance tokens, DeFi actors, and crypto firms that resemble financial conglomerates.

Clearing & Post-Trade

US SEC Proposes Measures to Enhance Clearing House Resilience

By Mark Johnston | 18/05/2023

The proposal would require clearinghouses to monitor margin exposures more closely and make intraday margin calls as frequently as needed.

Resolution & Recovery

Swiss Parliamentary Commission to Investigate Credit Suisse Deal

By Editors | 18/05/2023

The investigation’s exact mandate and the membership of the commission will be decided in legislative sessions which begin on 30 May.

Trading & Investment

CDS Payments Not Triggered by Credit Suisse Bond Wipe-out

By Editors | 18/05/2023

The EMEA Credit Derivatives Determination Committee was asked to rule on whether the Credit Suisse takeover should trigger insurance payouts on bonds.

Payments & Settlements

Thailand Considers Using Local Currency Settlement for China Trade

By Sanday Chongo Kabange | 18/05/2023

Bank of Thailand has been studying the barriers to yuan-baht payments and plans to reduce these barriers this year.

Resolution & Recovery

FDIC Ordered to Return Tax Refund Cheques to SVB Financial

By Editors | 18/05/2023

The court ruled that the FDIC has no authority to intercept tax refund checks clearly written out to “SVB Financial”, the bankrupt former parent of Silicon Valley Bank.