INDIA

    Securities / Derivatives

    RBI Expands Scope of Currency Derivatives Reporting Regime

    By Editors | 07/01/2020

    To date, the reporting framework only required banks to report currency derivatives transactions worth over $1mn. All transactions below this threshold now have to be reported.

    Market Infrastructure

    RBI Names Six ‘Significant’ Financial Benchmarks

    By Editors | 06/01/2020

    Financial Benchmarks India Pvt Ltd has three months to make an application to the RBI for authorisation to continue administering the benchmarks.

    SEBI Directs Investment Advisers to Improve Conduct

    By Editors | 02/01/2020

    SEBI has observed that some investment advisers have been providing advice on a ‘free trial basis’, without performing client risk profiling and product suitability assessments.

    Enforcement

    Indian Police Lay Charges Against Five in PMC Bank Fraud Case

    By Editors | 01/01/2020

    The 32,000-page charge sheet lays out charges against three executives from PMC Bank and two promoters of HDIL, which received about 67bn rupees in ‘hidden’ loans.

    Capital / Liquidity

    UPDATE – RBI Tightens Scrutiny of Urban Cooperative Banks

    By Editors | 31/12/2019

    The RBI is tightening exposure limits, mandating that a larger proportion of loans come from small borrowers, and requiring bigger UCBs to report large exposures on a quarterly basis.

    Enforcement

    SEBI Fines Credit Rating Agencies Over IL&FS Failures

    By Editors | 30/12/2019

    Three rating agencies were fined for failing to recognise and quickly respond to deteriorating financial conditions at IL&FS, whose defaults last September triggered a liquidity crisis.

    Securities / Derivatives

    SEBI Introduces Mandatory Stewardship Code for Fund Managers

    By Editors | 28/12/2019

    The new stewardship code will help institutional investors protect their clients’ wealth, improve corporate governance, and promote the development and regulation of the securities market.

    Enforcement

    SEBI Establishes Insider Trading Whistleblower Protection Office

    By Editors | 28/12/2019

    The ‘Office of Informant Protection’ is charged with receiving and processing information on insider trading disclosed by whistleblowers, and with protecting their identities.

    Fintech / Regtech

    RBI Caps Lenders’ Exposures to P2P Platform Borrowers

    By Editors | 28/12/2019

    The RBI has set a 5mn rupee cap on the aggregate exposure a lender can have to borrowers on P2P lending platforms, and a 1mn rupee cap for lenders with a net worth under 5mn rupees.

    Market Infrastructure

    RBI Allows IFSC Banks to Open Foreign Currency Current Accounts

    By Editors | 26/12/2019

    IFSC Banking Units will be allowed to open foreign currency current accounts for entities operating in Gift City, including non-resident institutional investors and corporate borrowers.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team