India

AML / KYC

RBI Officials Arrested for ‘Unauthorised Money Exchange’

By Samuel Riding | 19/12/2016

Two officials said to have given away new notes amounting to almost $300,000.

Securities / Derivatives

India Seeks to Ban 5 Brokers Over NSEL Scam

By Samuel Riding | 16/12/2016

Court order includes accusations that brokers are not ‘fit and proper’ to act in securities market.

Market Infrastructure

Deloitte’s NSE Audit Finds ‘Technical Lapses’

By Samuel Riding | 16/12/2016

No individual involvement or human fault involved, report will say.

AML / KYC

500 Indian Bank Branches Monitored in ML Probe

By Samuel Riding | 16/12/2016

Enforcement Directorate figures show four banks illicitly remitted $1.8bn outside India.

Market Infrastructure

Indian Gov’t Says NSE Gave Preferential Access

By Samuel Riding | 12/12/2016

Finance minister Arjun Meghwal says loophole making system prone to manipulation closed on 3 December.

Market Infrastructure

Tax Reform a Boon for Overseas Investors

By Samuel Riding | 09/12/2016

Simpler, more rational regime is increasingly conducive, EY partner Tejas Desai suggests.

Big Picture

The Big Picture – Indian Regulatory Outlook

By Samuel Riding | 08/12/2016

Highlights from Regulation Asia’s 2016 India Roundtable with ICCL, Stockholding, EY and PIVOT.

Securities / Derivatives

Japanese Regulator Recommends Morgan Stanley Fine

By Samuel Riding | 07/12/2016

SESC suggests unit be fined $1.9mn for market manipulation including placing orders without intent to trade.

Capital / Liquidity

Indian Court Questions Cash Withdraw Limits

By Samuel Riding | 07/12/2016

Gujurat High Court suggests central bank also not empowered to conduct ‘demonetisation’.