India

SEBI to Force Borrowers to Disclose Defaults to CRAs

By Editors | 23/08/2019

The move follows a spate of defaults in India where credit rating agencies were blamed for being unable to flag potential credit risks.

Enforcement

SEBI Targets Insider Trading with Informant Reward Mechanism

By Editors | 22/08/2019

Whistleblowers will be eligible for rewards up to $139,000 and, if culpable themselves, for amnesty or settlement with SEBI.

Crypto / Digital Assets

RBI Issues Enabling Framework for Regulatory Sandbox

By Editors | 14/08/2019

The RBI has set a minimum net worth criteria of $35,000 for sandbox participants, half the amount specified in April’s draft.

Capital / Liquidity

RBI Props Up NBFCs Through On-Lending Guidance

By Editors | 14/08/2019

Banks are mandated to lend a portion of their funds to priority sectors. Allowing NBFCs to serve as middlemen for such lending provides them a liquidity backstop.

Market Infrastructure

RBI Task Force Suggests Enhancements to Onshore Rupee Market

By Editors | 10/08/2019

The task force recommends implementation of margin requirements for non-centrally cleared OTC derivatives “at the earliest”.

Capital / Liquidity

RBI Cuts Consumer Credit Risk Weight, Offers Boost to NBFCs

By Editors | 09/08/2019

The RBI will increase bank exposure limits for NBFCs, allow on-lending to priority sectors, and enable near-real-time tracking of payments fraud through the creation of a centralised registry.

Market Infrastructure

SGX-NSE GIFT City Trading Link Receives Regulatory Approval

By Editors | 07/08/2019

The so-called ‘NSE IFSC-SGX Connect’ is set to become operational by end-2020, ending a dispute between the two exchanges.

Enforcement

RBI Issues Fines on Multiple Banks Totalling $2.9mn

By Editors | 06/08/2019

The fines, involving 15 banks in total, were related to delays in reporting fraud and non-compliance with various other RBI norms.

Securities / Derivatives

SEBI Proposal Stricter Rules for Portfolio Managers

By Editors | 06/08/2019

SEBI proposes a higher net worth requirement, a higher minimum investment, and standardised performance reporting for portfolio managers, among other changes.