Securities / Derivatives

SEBI Amends Risk Management Framework for Equity Derivatives

19/12/2018

Initial margins must be collected before the next trading day (T+0), but CCPs may allow 2 days after the last margin collection before close-out of equity derivative positions.

Capital / Liquidity

HKMA Asks Local Banks to Study Latest Pillar 3 Requirements

19/12/2018

The HKMA advises banks to start considering the system changes necessary to implement the Basel Committee’s latest Pillar 3 disclosure requirements.

Enforcement

ACCC to Get A$35mn to Pursue Anti-Competitive Behaviour

18/12/2018

New specialist investigators are expected to bring more competition cases to court each year and boost prosecutions of criminal cartels, especially in the financial sector.

Big Picture

Indian Government Could Undermine Banking Sector Reforms – S&P

18/12/2018

Restrictions on the RBI’s authority to reform governance of public sector banks are seen as a weakness in its mandate and could undermine financial stability, says S&P Global Ratings.

AML / KYC

Malaysia Files Criminal Charges Against Goldman Sachs over 1MDB

17/12/2018

Malaysian prosecutors have filed criminal charges against three Goldman subsidiaries and two former employees, seeking fines in the billions of dollars and jail terms of up to 10 years.

AML / KYC

AUSTRAC Publishes AML/CTF Guidance for Superannuation Sector

17/12/2018

While superannuation is not traditionally associated with financial crime exploitation, AUSTRAC’s risk assessment has rated the sector as medium risk.

Capital / Liquidity

HKMA Issues Revised SPM for Local IRRBB Implementation

17/12/2018

Authorised institutions should be ready to measure and report IRRBB exposures using the new standardised framework by 1 July 2019.

Market Infrastructure

Hong Kong Faces Skills Shortage in Fintech, Cybersecurity – Survey

17/12/2018

Fintech and cybersecurity were viewed as the areas with the largest skills shortage, followed by a skills gap in regulatory and compliance knowledge.

Capital / Liquidity

Myanmar’s First Credit Bureau to Become Operational Within a Year

17/12/2018

Using software from Equifax, the new credit bureau will enable lenders to use credit histories to calculate bad debt risk and potentially lower the need for collateral.