Trading & Investment

ISDA Publishes Consultation Results on Benchmark Fallback Parameters

18/11/2019

The majority preferred a historical median spread adjustment with a five year lookback period, and a two-banking-day backward shift adjustment for the compounded setting in arrears rate.

Conduct, Culture & Accountability

Fostering Customer Trust in the Financial Industry: MAS

18/11/2019

Regulators and FIs alike have an important part to play to build trust in the financial industry, MAS deputy managing director Ong Chong Tee said in a speech on Saturday.

Trading & Investment

China Eases Foreign Access to Interbank FX Derivatives for Hedging

18/11/2019

Under draft measures from SAFE, foreign institutional investors may participate in interbank FX derivatives to manage foreign exchange risk arising from interbank bond investments.

Anti-Money Laundering

NAB Faces Potentially Significant AML Penalties

18/11/2019

NAB’s annual report says the bank has reported “a number of” AML/CTF compliance breaches to regulators, the potential outcome and costs of which remain uncertain.

Supervision & Enforcement

CSRC Revokes Licences of CEFC China Securities Unit

18/11/2019

CEFC Shanghai Securities Co used its own and client funds to provide financing to its parent and other affiliated companies for purchasing and leasing properties.

Anti-Bribery & Corruption

SFC Bans Former Deutsche Securities RO for Life

18/11/2019

For ban follows a February 2018 conviction, where the former responsible officer was sentenced to 45 months’ imprisonment and ordered to pay HK$6.4mn to Deutsche Bank AG in restitution.

Supervision & Enforcement

UBS Fined in Singapore for Pricing Deception by Advisers

18/11/2019

The MAS penalty follows similar action taken against UBS by the Hong Kong SFC to penalise the bank and demand compensation for clients that were overcharged over a ten-year period.

Resolution & Recovery

FSB Prioritises CCP Resilience, Resolvability in Policy Work

15/11/2019

The FSB says it plans to consult on new guidance on evaluating the adequacy of a CCP’s resolution resources, and challenges still remain on aspects of G-SIB resolvability.

Market Risk

BCBS Consults on Pillar 3 Disclosure for Market Risk, Sovereign Exposures

15/11/2019

The first consultation sets out adjustments to Pillar 3 templates to reflect the revised market risk framework; the second consults on voluntary disclosure templates for banks’ sovereign exposures.