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Structural Regulation
Australia Increases Penalties for Anti-Competitive Conduct
By Editors | 28/10/2022
Maximum penalties for companies can be as high as A$50mn, three times the benefit derived from a breach, or 30% of annual turnover.
Conduct, Culture & Accountability
SGX RegCo Consults on Independent Director Tenure Limit
By Editors | 28/10/2022
The consultation also proposes to require listed companies to disclose director and CEO remuneration in annual reports on a named basis.
Conduct, Culture & Accountability
ASIC Calls Out Noncompliance With Breach Reporting Regime
By Editors | 28/10/2022
Not enough licensees are reporting, and they are taking too long to identify breaches, investigate them, and finalise remediation.
Structural Regulation
HKMA Confirms Health Arrangements for Upcoming Financial Forum
By Editors | 28/10/2022
Hong Kong Financial Secretary Paul Chan, who is due to deliver a keynote speech at the event, has tested positive for Covid-19 while in Saudi Arabia.
Clearing & Post-Trade
Don’t Overlook the Value of LEI
By Joseph Capablanca | 28/10/2022
DTCC’s Joseph Capablanca discusses the importance of the LEI for improving transparency, cutting costs, and reducing operational risk in the global financial industry.
Structural Regulation
Taiwan FSC Proposes Rule Changes for Futures Brokers
By Editors | 28/10/2022
Some futures firms will be able to allocate more of their special surplus reserves towards dividend payments.
Trading & Investment
CommSec, AUSIEX Fined A$27m for Market Integrity Rule Breaches
By Editors | 27/10/2022
CommSec and AUSIEX demonstrated “widespread, systemic compliance failures” over a nine-year period, said ASIC deputy chair Sarah Court.
Structural Regulation
FCA Explores Competition Risks from BigTech in Retail Financial Services
By Editors | 27/10/2022
The consultation focuses on Big Tech firms’ entry and expansion into four retail sectors – payments, deposit taking, consumer credit and insurance.
Trading & Investment
Refinitiv Launches Prototype Forward-Looking €STR Term Rate
By Editors | 27/10/2022
The prototype rate can be used in testing to prepare for the introduction of robust fallback language in EURIBOR contracts.
Structural Regulation
CFTC Grants Exemptions to Three More Singapore RMOs
By Editors | 27/10/2022
The CFTC granted SEF registration exemptions to Bloomberg Tradebook Singapore, SGX FX Markets (BidFX), and Synoption.
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