Market Infrastructure

APRA Proposes New Prudential Standard on Executive Pay

24/07/2019

Key proposals include limits on the financial performance component of variable compensation, a 7-year deferral period for executive bonuses, and claw back for up to 4 years.

Fintech / Regtech

SFA, AFIN Agree to Jointly Promote Fintech Marketplace APIX

24/07/2019

The Singapore Fintech Association will leverage its network to promote the APIX platform to fintech firms worldwide, while AFIN connects banks with fintechs through the platform.

Market Infrastructure

BSE, SSE to Explore Dual Listings, Offshore RMB Products

23/07/2019

BSE India and the Shanghai Stock Exchange have agreed to develop communication channels to facilitate cross-border capital market cooperation.

Market Infrastructure

BCBS, IOSCO Agree One-year Phased Extension of Initial Margin Rules

23/07/2019

Initial margin requirements for firms with uncleared derivatives exceeding $8bn have been extended to September 2021; firms exceeding a $50bn threshold will have to comply in September 2020.

Capital / Liquidity

RBI Urges Better Risk Monitoring, Faster NPA Resolution at State Banks

23/07/2019

RBI governor Shaktikanta Das asked state-owned banks to speed up bad debt recovery efforts, strengthen internal controls and risk monitoring, and help fix the ongoing NBFC liquidity crisis.

Market Infrastructure

Australia to Re-Introduce Open Banking Legislation This Week

23/07/2019

The Australian Banking Association welcomes the re-introduction of the legislation, following a lapse earlier this year when the federal parliament was dissolved.

Enforcement

Hong Kong ICAC Charges Five More Individuals in Convoy Case

23/07/2019

Six individuals are now charged with conspiracy to defraud the Hong Kong stock exchange and the board of directors, shareholders and investors of Convoy.

Securities / Derivatives

China Kicks Off Trading in New SSE STAR Market

23/07/2019

The first batch of 25 stocks raised over $5.4bn and ended the day higher by an average of 140% from their IPO prices, with some rising as much as 520% during the session.

Capital / Liquidity

China Simplifies Issuance of Preferred Shares for Smaller Banks

23/07/2019

The revised guidance makes it easier for non-listed banks to replenish Tier 1 capital through the issuance of preferred shares. To date, only listed banks have issued such instruments.