Markets & Infrastructure

Structural Regulation

ASIC Issues Interim Stop Orders on Three BT Funds

By Editors | 16/03/2023

ASIC said the TMDs for three funds were “broadly drafted and failed to define key concepts” and did not meet the “appropriateness requirements” under the DDO regime.

Market Data & Technology

More TSE Companies Disclosing Earnings Reports in HTML Format

By Editors | 16/03/2023

Over 2,400 companies listed on the Tokyo bourse have voluntarily disclosed their earnings reports in HTML format.

Payments & Settlements

US Announces July Launch Date for FedNow Service

By Editors | 16/03/2023

The Federal Reserve said it will begin the formal certification of participants for launch of the FedNow Service in the first week of April.

Trading & Investment

HKEX Confirms Plans to Launch RMB Counter of its Stock

By Editors | 16/03/2023

HKEX said the launch of RMB counter will allow investors to seamlessly interchange between securities listed in both HKD and RMB.

Clearing & Post-Trade

DTCC Offers New Tool to Facilitate LIBOR Transition

By Editors | 16/03/2023

Widespread usage of the tool will be “an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.

Payments & Settlements

HKIMR Report Explores GBA Cross-border Payments Challenges

By Editors | 16/03/2023

A survey of FIs found that some GBA transactions are still processed manually. Other challenges relate to differing messaging formats, regulatory requirements and investment quotas.

Structural Regulation

Singapore Consults on Adjustment Spreads for Legacy SIBOR Contracts

By Editors | 15/03/2023

Steering Committee proposes to have a period of active transition until 30 April 2024, before banks initiate an industry-wide automatic conversion process around June 2024.

Structural Regulation

FSC to Ease Rules to Help Korean FIs Expand Overseas

By Editors | 15/03/2023

New FSC taskforce will work on measures to help FIs expand and invest overseas and address issues that prevent global firms from entering the Korean market.

Fraud, Scams & Cybercrime

US OCC Fines Ex-Wells Fargo Exec for Sales Misconduct

By Editors | 15/03/2023

Carrie Tolstedt was not required to admit or deny the OCC allegations, but she faces up to 16 months in prison under a plea agreement with federal prosecutors.