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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.

Clearing & Post-Trade
ASX Releases Reports on CHESS System to ASIC, RBA
By Sanday Chongo Kabange | 06/06/2023
ASX to keep CHESS operational until at least 2032. ASIC said it is prepared to take regulatory action to ensure ASX complies with its regulatory obligations.

Structural Regulation
Changes to Position Limit Regime to Take Effect in December: SFC
By Manesh Samtani | 06/06/2023
Asset managers will have primary responsibility for position limit compliance and reporting obligations at the individual fund or sub-fund level.

Trading & Investment
Philippine SEC Approves Plans to Introduce Short Selling – Report
By Sanday Chongo Kabange | 06/06/2023
The SEC and PSE are reported to now be working out how to implement short selling this year, to boost domestic market liquidity.

Cryptocurrency
US SEC Charges Binance for “Elaborate Scheme” to Evade Law
By Manesh Samtani | 06/06/2023
CEO Changpeng Zhao said the lawsuit was the latest example of “regulation by enforcement” and that the SEC seeks a “near eradication” of the crypto industry.

Structural Regulation
SET Amends Listing Rules to Expand Access to Capital Market
By Sanday Chongo Kabange | 06/06/2023
The rule change relaxes earlier limitations that only allowed BCG (Bio-Circular-Green) companies promoted by the government to tap into the capital market.

Structural Regulation
ASIC Reviewing Product Governance of BNPL Providers
By Sanday Chongo Kabange | 05/06/2023
ASIC issued an interim stop order against a BNPL product but revoked the order a day later due to “immediate corrective action” by the provider.

Trading & Investment
Cboe Launches “First-of-its-kind” Global Listing Network
By Editors | 05/06/2023
Stocks that are “intralisted” on Cboe’s US and Canada exchanges will be available for trading in the Netherlands and the UK, with Australia to follow.

Payments & Settlements
Updated ePayments Code Takes Effect in Australia
By Sanday Chongo Kabange | 05/06/2023
The updated ePayments Code strengthens protections for consumers and obliges banks to help customers recover money that has been transferred in error.

Structural Regulation
ASIC Issues First Stop Order on Superannuation Product
By Sanday Chongo Kabange | 04/06/2023
The interim stop orders were made against Spaceship Super and three managed funds promoted by Spaceship Capital due to deficient TMDs.

Structural Regulation
HKMA Issues Public List of Bank-Owned Trust Businesses
By Sanday Chongo Kabange | 02/06/2023
All entities on the list have provided the HKMA an annual declaration on their compliance with a new code of conduct for bank-related trust businesses.
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