Markets & Infrastructure

Conduct, Culture & Accountability

Hong Kong Mandatory Reference Checking Regime Now in Force

By Editors | 04/05/2023

The regime requires banks to conduct mandatory reference checks to fill specified positions, to address the issue of ‘rolling bad apples’.

Market Abuse

ASIC Penalises Stockbroker for Mishandling Stock Buyback

By Editors | 04/05/2023

During an on-market buyback, Ord Minnett executed a pre-arranged transaction to buy shares at above-market prices, giving “preferential treatment” to the selling client.

Resolution & Recovery

More Credit Suisse AT1 Bondholders Sue FINMA

By Editors | 04/05/2023

The suit means that investors representing up to a third of the $17bn in AT1 bonds issued by Credit Suisse have now launched legal action.

Structural Regulation

HKMA Set to Implement New Rules for Trust Business

By Editors | 03/05/2023

Banks must report by 15 May on whether they and/or their subsidiaries carry on trust business in Hong Kong. The new rules commence on 1 June.

Structural Regulation

SEBI Mandates LEI Reporting Requirement for Debt Issuers

By Editors | 03/05/2023

Issuers of listed non-convertible securities, securitised debt instruments and security receipts must obtain and report their LEI by 1 September.

Structural Regulation

Philippine SEC to Raise Penalties for Late Filing of Reports

By Sanday Chongo Kabange | 03/05/2023

In addition to higher monetary fines, the SEC may label a company ‘delinquent’ or revoke its registration in case of repeated failures.

Clearing & Post-Trade

ESMA Follows Through with De-recognition of Indian CCPs

By Manesh Samtani | 03/05/2023

So far Indian markets have not faced disruptions. This is attributed to the concessions provided by French and German regulators.

Structural Regulation

Hong Kong Virtual Banks Saw Narrower Losses in 2022 – Report

By Editors | 02/05/2023

ZA Bank and Mox Bank have the largest customer bases. None of the eight virtual banks are profitable yet, but their losses have mostly narrowed.

Payments & Settlements

Indonesia, Korea to Use Local Currency in Bilateral Transactions

By Editors | 02/05/2023

BI and BOK will enable direct exchange rate quotations between the Korean won and the Indonesian rupiah in interbank trading.