Market Infrastructure

JBA Responds to Hong Kong OTC Derivatives Consultation

28/06/2019

The Japanese Bankers Association asks the HKMA and SFC to develop rules that automatically assign the UTI generation responsibility, rather than rely on bilateral agreement between counterparties.

Market Infrastructure

S. Korea to Ease Rules for Brokerage, Asset Management Sectors

28/06/2019

The FSC is trying to spur competition in the capital market, and encourage the establishment of new brokerages. Only six new brokerages have been set up in Korea since 2010.

Market Infrastructure

China-Japan Cross-Border ETFs Start Trading

28/06/2019

Eight new cross-border ETFs have started trading on the Shanghai and Tokyo stock exchanges, just days after FTSE Russell started including China A shares in its indexes.

Capital / Liquidity

BCBS Finalises Revisions to Leverage Ratio, Disclosure Requirements

28/06/2019

The leverage ratio revision permits cash and non-cash forms of margin received from clients to offset the replacement cost and potential future exposure for client cleared derivatives.

Enforcement

MUFG Bank Reaches Settlement with New York State Regulator

28/06/2019

The agreement settles claims relating to MUFG’s switch from state to federal oversight in November 2017, as New York regulators asserted continuing regulatory authority.

Capital / Liquidity

FSC Announces S. Korea’s D-SIBs for 2020

28/06/2019

The five bank holding companies and their subsidiary banks will be required to set aside additional common equity capital of 1% for 2020.

Securities / Derivatives

SGX Enables Portfolio Compression for Listed Derivatives

28/06/2019

SGX, in collaboration with a unit of BGC Partners, has become the first exchange in Asia to launch a portfolio compression service for listed derivatives.

Enforcement

ASIC Imposes Lifetime Ban on Former Westpac Adviser

27/06/2019

The former adviser is said to have prioritised his own interests over those of his clients by providing inappropriate advice that maximised fees and commissions.

Market Infrastructure

RBI Issues Guidelines for Financial Benchmark Administrators

27/06/2019

Existing financial benchmark administrators will be notified if their benchmark is considered a “significant benchmark”. They will then have three months to apply for RBI authorisation.