Securities / Derivatives

Securities / Derivatives

New Securities Law to Take Effect in China from March 2020

By Editors | 28/12/2019

A fourth and potentially final draft of China’s new Securities Law has been submitted to the NPC Standing Committee’s bimonthly session.

Enforcement

China to Improve Mechanisms for Handling Bond Defaults

By Editors | 28/12/2019

Proposals include mechanisms for early detection and investigation of bond disputes, higher penalties for repayment failures, and lower costs for investors exercising litigation rights.

Capital / Liquidity

Philippine Bourse Seeks Higher Capital Requirements for Brokers

By Editors | 26/12/2019

In the aftermath of a 700-million-peso stock theft, PSE president Ramon Monzon will reportedly propose to more than triple current capital requirements for older firms.

Securities / Derivatives

SEBI to End Usage of Pool Accounts for Mutual Fund Transactions

By Editors | 26/12/2019

SEBI found that trading and clearing members used by mutual funds were diverting client funds and securities to meet their own or third-party margin or settlement obligations.

AML / KYC

ISDA Calls For Guidance on Handling of Derivatives Impacted by Sanctions

By Editors | 25/12/2019

ISDA proposes 8 principles sanctions authorities can consider to ensure safe operation of markets, and minimise derivatives market disruption and economic consequences for non-sanctioned entities.

Securities / Derivatives

HKEX to Shorten IPO Settlement to Single Day

By Editors | 25/12/2019

HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.

Enforcement

SFC Fines Adamas Asset Management for Disclosure Failings

By Editors | 24/12/2019

The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.

Enforcement

CFTC Charges HSBC Exec with Manipulation, Fraud

By Editors | 24/12/2019

The former head of HSBC’s North American interest rates business allegedly manipulated prices for five-year basis swaps used to price a bond issuance and a related swap.

Securities / Derivatives

Japan Solicits Feedback on Revised Stewardship Code

By Editors | 24/12/2019

The changes add expectations that sustainability issues will be considered in the investment process, and introduce expectations for service providers.