Market Abuse

S. Korea’s Largest Crypto Exchange Accused of Inflating Volumes, Prices

27/12/2018

South Korea’s Upbit is alleged to have used bots to manipulate trading volumes and prices to attract investors to the exchange. Two officers and an employee have been indicted.

AI Risk & Governance

India Eyes Introduction of Sandbox Policy to Boost Capital Markets Innovation

24/12/2018

SEBI is examining whether legislative changes are required for the sandbox, as it seeks to enable the use of machine learning, artificial intelligence and blockchain in capital markets.

Liquidity Risk

PBOC to Penalise Delayed Reserve Requirement Deposits

24/12/2018

The PBOC will boost oversight mechanisms, improve checks and impose penalties to prevent financial institutions’ reserves at the central bank from falling below statutory requirements.

Structural Regulation

ISDA Releases Final Report on Benchmark Fallbacks Consultation

24/12/2018

ISDA will proceed to develop fallbacks based on the ‘compounded setting in arrears rate’ and the ‘historical mean/median approach to the spread adjustment’.

Structural Regulation

S. Korea to Accept Internet-Only Bank Applicants in March

24/12/2018

Two new internet banks will be granted preliminary regulatory approval by May, allowing them to provide loans to consumers, households and SMEs, but not to corporates.

Clearing & Post-Trade

LSEG Technology Announces New Post-Trade Functionality at SGX

24/12/2018

The new settlement and depository system enables SGX and market participants to align to global market practices, messaging standardisation and T+2 settlement.

Clearing & Post-Trade

KRX May Face CFTC Penalty for Violating CCP Rules – Report

21/12/2018

Korean media reports indicate the CFTC may take action against KRX as early as this month in response to its failures to comply with regulations for CCPs.

Capital Adequacy

India Seeks Parliamentary Approval to Infuse More Capital into Banks

21/12/2018

The government plans to pump $11.8 billion into public sector banks to raise them out of the RBI’s PCA framework and increase the banking system’s lending capacity.

Conduct, Culture & Accountability

Licensees Should Avoid Employee Allocations in Equity Raising – ASIC

21/12/2018

Following a review of allocations practices in equity raising transactions, ASIC said allocations to employees should be avoided as they can present conflicts of interest.