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Structural Regulation
SEBI Proposes SRO Nomination Plan for Mutual Fund Distributors, Advisers
By Editors | 02/04/2019
A consultation proposes the creation of a nomination committee comprising external experts to recommend a self regulatory organisation for mutual fund distributors and advisers to curb mis-selling.
Trading & Investment
NSE, SGX Reach Agreement on India Derivatives
By Editors | 01/04/2019
NSE and SGX have reportedly finalised an agreement that will enable SGX to offer trading in Nifty derivatives to Singapore investors through a special purpose vehicle operating as a broker at GIFT City.
Credit Risk
Vijaya, Dena Banks Start Operating as Bank of Baroda Branches
By Editors | 01/04/2019
The state-backed three-way merger of Vijaya Bank, Dena Bank and Bank of Baroda has taken effect, creating India’s third largest lender.
Payments & Settlements
SEBI Updates Disaster Recovery Guidelines for Market Infrastructures
By Editors | 01/04/2019
Stock exchanges, depositories and clearing corporations must have in place business continuity plans and disaster recovery policies that ensure ‘zero data loss’
Fraud, Scams & Cybercrime
India’s PNB Fined for Non-Compliance with SWIFT Norms
By Editors | 27/03/2019
The fine is significant because it was at Punjab National Bank where the $1.8b fraud occurred that prompted the RBI’s order for banks to link their core systems with SWIFT.
Trading & Investment
SEBI Amends Norms on Mutual Fund Commissions, Disclosures
By Editors | 27/03/2019
SEBI has set a cap on up-fronting of trail commissions and amended disclosure rules to “protect the interests of investors.”
Cloud & Infrastructure
RBI to Issue Regulatory Sandbox Guidelines Within 2 Months
By Editors | 26/03/2019
The RBI will set up a regulatory sandbox and create an ecosystem which promotes collaboration in fintech, central bank governor Shaktikanta Das said on Monday.
Credit Risk
RBI Again Defers Banks’ Implementation of New Accounting Standards
By Editors | 25/03/2019
The RBI has again deferred ‘until further notice’ the implementation of new accounting rules for banks, which could have forced banks to raise bad loan provisions by $16bn in H2, said Fitch.
Market Abuse
SEBI Seeks Broader Powers to Pursue Securities Law Violations
By Editors | 25/03/2019
SEBI wants to be able to inspect the books of listed companies when it suspects any securities law violations, and to impose penalties for the manipulation of a company’s accounts.
Fraud, Scams & Cybercrime
Indian Billionaire Arrested in London over $2bn Bank Fraud
By Editors | 22/03/2019
India’s diamond billionaire, Nirav Modi, has been arrested in London for his alleged role in a $2bn fraud at Punjab National Bank reported last year.
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