United States

Securities / Derivatives

Thailand: SET Gets Powers to Respond to Market Disruptions

By Editors | 15/04/2020

In a market disruption event, the SET board now has the power to prohibit short selling and algorithmic trading on the spot, among other measures.

Market Infrastructure

ISDA, IIF Warn G20 of Acute USD Shortage in Emerging Markets

By Editors | 13/04/2020

US dollar shortages could constrain policy responses aimed at cushioning emerging market economies from the Covid-19 shock.

Big Picture

Short Selling May Help Mitigate the Effects of Covid-19 Crisis

By Editors | 13/04/2020

ISLA’s Council for Sustainable Finance says short selling can be a “positive mechanism”, and banning it can harm price discovery and liquidity.

Capital / Liquidity

BSP Offers Banks Mark-to-Market Relief, Cuts Liquidity Requirements

By Editors | 08/04/2020

The accounting relief allows banks to effectively reverse unrealised losses resulting from a change in fair value. The MLR cut frees up almost $200mn for smaller lenders.

Capital / Liquidity

Sri Lankan Brokers Prohibited from Charging Interest on Margin Loans

By Editors | 08/04/2020

The central bank has also suspended overseas investment and outward remittances by Sri Lankan residents, and cut interest rates for the second time in three weeks.

Enforcement

US Court Reverses 2017 Dismissal of Rate Rigging Suit Against Banks

By Editors | 07/04/2020

The decision effectively revives a suit by a group of investment funds against major banks over their alleged manipulation of yen LIBOR and euroyen TIBOR between 2006 and 2011.

AML / KYC

Tiger Brokers NZ, Six Others Get Formal Warning for AML Failures

By Editors | 06/04/2020

A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.

Enforcement

CSRC Opens Investigation into Fraud at Coffee Chain

By Editors | 06/04/2020

The chief operating officer of Nasdaq-listed Luckin Coffee, along with his employees, are said to have fabricated about $310mn worth of sales transactions.

Capital / Liquidity

HKMA Frees Up Regulatory Reserves, Liquidity Buffers for Banks

By Editors | 05/04/2020

Regulatory reserves held against possible credit losses will be reduced by half. Banks are encouraged to use liquidity buffers built up under the LCR and LMR regimes.