Market Infrastructure

China’s Baihang Credit Now Connected to Over 600 Databases

13/03/2019

The databases of more than 600 are now connected to Baihang Credit, China’s first market-based personal credit agency, according to PBOC deputy governor Chen Yulu.

Securities / Derivatives

India Scraps FPI Investment Cap for Corporate Bonds

13/03/2019

In response to market feedback, SEBI has dropped the 20% cap on foreign portfolio investors’ investment in corporate bonds.

Market Infrastructure

FSB to Explore Hazards of Leveraged Loan Market – Report

12/03/2019

In particular, the FSB will look at collateralised loan obligations to identify which institutions hold them and assess the risks they may pose in the event of a downturn.

Securities / Derivatives

ISDA Consults on Proposals to Clean Up CDS Market

12/03/2019

The proposals seek to end a trading practice of encouraging otherwise healthy companies to default by offering them favourable financing in order to pocket CDS payouts.

AML / KYC

SEBI’s Meets Opposition from Global Funds on KYC Requirements

12/03/2019

Global asset managers have opposed SEBI’s plan to create a centralised database of beneficial owners of foreign portfolio investors.

AML / KYC

Bank of Ayudhya Uses Facial Recognition in Account Opening

12/03/2019

Bank of Ayudhya has become the first bank in Thailand to introduce facial recognition in account opening, which it says will enhance security and prevent fraud and identity theft.

Enforcement

Australian Banks Taking Too Long to Fix ‘Fees-For-No-Service’ Failings – ASIC

12/03/2019

Delays attributed to poor record-keeping and systems, failures to implement methodologies to identify and compensate customers, and an overly legalistic approach at some institutions.

Enforcement

UBS, StanChart to Settle Hong Kong IPO Misconduct Case

12/03/2019

The case goes back to the 2009 listing of a Chinese timber company, which was later suspended for accounting irregularities. Details of the settlement will be released at a later date.

Securities / Derivatives

HKEX to Launch China A-Share Futures Contract

12/03/2019

The development represents a key risk management tool for international investors who need to manage their A-share equity exposure, says HKEX chief Charles Li.