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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Trading & Investment
ARRC Publishes Guidance on Swap Rate, Business Loans, ABS
By Editors | 29/03/2021
The ARRC has published a formula to calculate fallbacks from the USD LIBOR ICE Swap Rate, simplified fallback language for business loans, and a model for using SOFR in ABS products.
Structural Regulation
BNM Shariah Advisory Council Rules RFRs Permissible
By Editors | 29/03/2021
The ruling was made based on the justification that the compounding methodology is “merely an arithmetic method” and does not affect compliance with Shariah requirements.
Conduct, Culture & Accountability
ASIC Makes Legislative Instruments on Adviser Requirements
By Ranamita Chakraborty | 29/03/2021
ASIC has introduced legislative instruments covering advice fee consents and lack of independence disclosure requirements.
Structural Regulation
HK to Consult on SPAC Listing Framework in June – Report
By Editors | 29/03/2021
The rules are expected to include conditions for sponsors or SPACs. Acquisition targets will have to meet the existing standards for IPOs.
Structural Regulation
SEBI Requires Intermediaries to Seek Approval for Change in Control
By Editors | 29/03/2021
Under the new guidelines, transfer of shareholding among immediate relatives shall not result into change in control for unlisted body […]
Trading & Investment
US Securities Regulator Opens Inquiry into SPAC Listings
By Sanday Chongo Kabange | 29/03/2021
The SEC has reportedly written to banks seeking information on how underwriters are managing the risks involved.
Structural Regulation
FMSB Issues Draft Standard on ‘Appropriate’ Use of Term SONIA
By Manesh Samtani | 28/03/2021
The main use cases where a robust rationale may be identified for using Term SONIA in lending products include trade finance, working capital, and Islamic finance products.
Payments & Settlements
BPAY, eftpos, NPPA Seek ACCC Approval for Merger
By Ranamita Chakraborty | 28/03/2021
The three payment schemes say their merger will allow them to bring innovative products to market more quickly, and will not reduce competition.
Trading & Investment
Cboe Global Markets to Acquire Chi-X Asia Pacific
By Sanday Chongo Kabange | 28/03/2021
The acquisition will provide Cboe with a single point of entry into Australia and Japan and bring block trading capabilities to the APAC region.
Structural Regulation
HKMA Releases Banks from 30 June LIBOR Transition Milestone
By Manesh Samtani | 26/03/2021
International banks say prematurely restricting the issuance of LIBOR-linked contracts may result in fragmented markets.
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