Trading & Investment

HKEX to Automate Large Open Position Reporting Process

11/06/2020

Starting in September, participants will be able to fully automate their current LOP reporting process, using the Secure File Transfer Protocol (SFTP) facility.

Conduct, Culture & Accountability

FMSB Offers Guidance on LIBOR Transition Conduct Risks

11/06/2020

Uncertainties associated with the transition may make it harder for firms to identify how to treat their customers fairly, and to demonstrate that they have done so, the FMSB says.

Structural Regulation

SEBI Relaxes Norms to Fast-track Further Public Offers

11/06/2020

FPOs will still be allowed to proceed if show cause notices or prosecution proceedings are still ongoing, or it securities law violations have been recently settled.

Supervision & Enforcement

CBIRC Moves to Stamp Out Abuse of Cheap Loans

11/06/2020

Banks have reportedly been directed to reduce their structured deposits to January levels, as part of CBIRC efforts to stamp out abuse of cheap loans.

Anti-Money Laundering

Chinese Police Freeze 4,000 Bank Accounts in Crypto Probe

11/06/2020

Guangdong police have reportedly frozen about 4,000 bank accounts belonging to cryptocurrency traders in a crackdown on illicit activities.

Supervision & Enforcement

Korea: Banks, Brokers Agree Plan to Recover Lime Asset Losses

11/06/2020

Twenty firms, including banks and brokers, will set up a new entity to manage the estimated 1.7tr won in assets frozen by Lime Asset Management since October.

Structural Regulation

High-Level Forum Charts Course to Achieve EU Capital Markets Union

11/06/2020

In a new report, the EU’s High-Level Forum on capital markets union offers specific recommendations on developing deeper, more dynamic and more harmonised markets across EU member states.

Structural Regulation

Xiaomi-AMTD Joint Venture Launches Hong Kong Virtual Bank

11/06/2020

Airstar Bank commits to becoming “Everyone’s Bank”, contrasting itself with conventional banking models which focus on high net-worth individuals.

Trading & Investment

Australia: Banks Fail to Pass Rate Cuts to Credit Card Customers

10/06/2020

The credit cards with the largest rate increases are those backed by Citigroup, Members Equity Bank, Police Credit Union, and ANZ, according to consumer advocacy group CHOICE.