Trading & Investment

Trading & Investment

Australia: Smaller Institutions, Buy Side Less Prepared for Libor Cessation

By Manesh Samtani | 24/10/2019

Existing Libor-referencing contracts that don’t have robust fallback provisions in place will be tied up in very lengthy disputes, warned the RBA’s Christopher Kent at ISDA’s Australia Conference.

Conduct, Culture & Accountability

UBS Identifies ‘Inappropriate Spreads’ Charged to HK, SG Clients

By Editors | 24/10/2019

UBS may have charged some wealth management clients booked in Hong Kong and Singapore ‘inappropriate spreads’ on debt securities transactions between 2008 and 2015.

Trading & Investment

SEBI Allows Stock Exchange Listings of Commercial Paper

By Editors | 23/10/2019

SEBI says issuers have shown an interest in listing their commercial paper on stock exchanges to capture broader investor participation.

Trading & Investment

JPM, SocGen Earned $6.8mn on Money-Losing DLFs Sold in Korea

By Editors | 23/10/2019

FSS data shows that JP Morgan Chase and Société Générale earned nearly $6.8mn from the high-risk derivatives products sold through KEB Hana and Woori Bank.

Structural Regulation

China Eases Rules on Backdoor Listings for Some Firms

By Editors | 23/10/2019

Assets in high tech and strategically important emerging sectors that “conform to the national strategy” can be used to restructure ChiNext companies, the CSRC says.

Trading & Investment

IPO Sponsors, Underwriters Are ‘Guardians of Market Quality’: SFC

By Manesh Samtani | 22/10/2019

The SFC expects sponsors to conduct sufficient due diligence to properly understand and assess the companies seeking to be listed, and to ensure red flags are properly followed up.

Trading & Investment

ISDA Publishes Final Results of IBOR Pre-Cessation Consultation

By Manesh Samtani | 22/10/2019

The consultation did not yield a consensus among market participants regarding how to address pre-cessation issues related to a benchmark’s nonrepresentativeness.

Trading & Investment

SSE, SZSE Grant Stock Connect Access to HK Dual Class Shares

By Editors | 22/10/2019

The rule changes come over a year after the China and Hong Kong bourses started working towards including dual class shares in Stock Connect.

Structural Regulation

UPDATED – Japan Cabinet Approves Tougher Foreign Investment Rules

By Editors | 21/10/2019

Japan’s proposal to lower the notification threshold for foreign investors has passed the cabinet and could become law by early April, with exemptions for foreign FIs.