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Structural Regulation
ASIC Set to Undergo First Review by New Monitoring Body
By Sanday Chongo Kabange | 07/12/2021
The new Financial Regulator Assessment Authority will assess ASIC’s effectiveness and capability including in its surveillance and licensing functions.
Trading & Investment
China Limits Scope of Allowed Derivatives Activities at Banks
By Editors | 07/12/2021
Domestic financial institutions can only enter into cross-border OTC derivatives transactions if they are used for hedging purposes.
Fraud, Scams & Cybercrime
Hong Kong SFC Imposes Lifetime Ban on Former Licensee
By Editors | 06/12/2021
The former licensee offered to invest for two students he taught, and then misappropriated their funds for his personal use.
Trading & Investment
Bursa Malaysia Derivatives Launch Night Trading Session
By Sanday Chongo Kabange | 06/12/2021
Bursa’s new T+1 night trading session seeks to enhance the competitiveness and attractiveness of Malaysian derivatives markets.
Structural Regulation
CBIRC Issues Draft Rules on Fair Pricing of Banking Services
By Darien Choong | 06/12/2021
Banks should not engage in unfair competition through low pricing, and they must not charge fees without providing substantive services.
Sustainable Finance
ISDA Calls for Legal Clarity on Voluntary Carbon Credits
By Sanday Chongo Kabange | 06/12/2021
Legal clarity across jurisdictions would support the drafting of standardised documentation for a voluntary carbon credit OTC derivatives market.
Structural Regulation
Citigroup Applies to CSRC for China Securities Licence
By Editors | 06/12/2021
Citigroup reportedly plans to also apply for a futures licence in China in the coming months.
Structural Regulation
OJK Launches Five Year Roadmap for Rural Bank Development
By Mark Johnston | 06/12/2021
Indonesia’s OJK has launched a five year development roadmap for the country’s rural banks and Sharia rural banks.
Trading & Investment
USD Cross-currency Derivatives to Use SOFR from 13 December
By Editors | 06/12/2021
Under part two of the second phase of SOFR First, interdealer brokers are asked to use SOFR instead of LIBOR in the USD leg of all newly-executed cross-currency derivatives.
Structural Regulation
Treasury Offers Recommendations to Improve AFCA’s Operations
By Sanday Chongo Kabange | 05/12/2021
Treasury recommends government remove the legislative requirement for authorised credit representatives to be members of AFCA.
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