Market Data & Technology

FSB Confirms Governance Body for OTC Derivatives Identifiers

27/09/2020

The Regulatory Oversight Committee of the Global LEI System will be the International Governance Body for the UTI, UPI and CDE as of 1 October.

Credit Risk

BSP to Impose 24pc Ceiling on Credit Card Interest

27/09/2020

Effective from 3 November, credit card issuers can charge a maximum 2% per month on unpaid outstanding credit card balances.

Anti-Bribery & Corruption

Former Citic Bank Exec Sentenced to 15 Years’ Jail for Bribery

26/09/2020

The conviction is said to be linked to a criminal case involving the head of a Citic Group asset management subsidiary.

Credit Risk

Bangladesh Bank Orders Banks to Cap Credit Card Interest

26/09/2020

Banks are charging customers between 25 and 27 percent in interest on credit card debt, in violation of regulations, Bangladesh Bank said.

Conduct, Culture & Accountability

SEBI Quadruples Penalties Against CRAs Over IL&FS Failures

26/09/2020

In December, SEBI issued INR 2.5 million penalty orders against ICRA, India Ratings & Research and Care Ratings. This has been raised to INR 10 million.

Data Privacy

Thailand: BOT to Revamp Banks’ Reporting Requirements

26/09/2020

The reforms will reduce data processing steps for financial institutions and the costs associated with reporting, while increasing reporting efficiency.

Trading & Investment

BSP Approves Sale of Unit Investment Trust Funds via Third Parties

26/09/2020

New rule amendments allow trust corporations to offer their investment products through third-party distributors, including individual and institutional agents.

Trading & Investment

CSRC Approves Four ETFs Tracking New SSE STAR 50 Index

26/09/2020

China Asset Management, E Fund Management, Huatai-PineBridge Fund Management and ICBC Credit Suisse Asset Management received approval.

Clearing & Post-Trade

ASX Responds on Tranche 2 Rule Changes for CHESS Replacement

26/09/2020

The consultation on the 2nd tranche of rule changes covered operating rules relating to corporate actions, mFund and RTGS payment aspects for the new system.