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Market Infrastructure
No Time for Complacency Despite Two-Year BMR Reprieve
By Gregory Campbell | 21/07/2019
Third country benchmark administrators will need every bit of the additional time granted for BMR compliance to ensure their benchmarks get approved, say PwC’s Gregory Campbell and Daniela Bunea.
Enforcement
Korea Exchange Fined for Making False Statement to CFTC
By Editors | 14/07/2019
The CFTC found that KRX failed to disclose that it was not in compliance with a requirement to use daily stress tests to evaluate the sufficiency of its financial resources.
Market Infrastructure
RBI Issues Guidelines for Financial Benchmark Administrators
By Editors | 27/06/2019
Existing financial benchmark administrators will be notified if their benchmark is considered a “significant benchmark”. They will then have three months to apply for RBI authorisation.
Big Picture
Buy-Side to Provide Stability in Bond Market Stress: IOSCO
By Manesh Samtani | 24/06/2019
Intermediaries and banks are less likely to provide liquidity during times of stress because of post-crisis changes in regulation and risk appetite.
Market Infrastructure
IOSCO Urges Members to Review, Enhance Cyber Standards
By Editors | 19/06/2019
A new report from the IOSCO Cyber Task Force provides an overview of three internationally recognised cyber standards and frameworks used by IOSCO members.
Market Infrastructure
ISDA Calls for Consistency in Implementation of Margin Rules
By Manesh Samtani | 18/06/2019
In order to maximise efficiency, minimise risk and reduce market fragmentation, national regulators must strive for harmonised margin requirements across the globe, ISDA says.
Enforcement
SFC, CSRC to Facilitate Cross-Border Investigations
By Editors | 17/06/2019
The SFC and CSRC have agreed on a new cooperative framework to facilitate and coordinate cross-border investigations in “high impact or urgent cases”.
Big Picture
IOSCO Publishes Recommendations on Sustainable Finance
By Editors | 08/06/2019
The report identifies the prerequisites for creating an ecosystem that facilitates sustainable finance, and sets out 10 recommendations for growth and emerging markets.
Market Infrastructure
CPMI-IOSCO Paper on CCP Default Management Auctions
By Editors | 07/06/2019
The discussion paper describes the considerations CCPs take into account when planning and conducting default management auctions.
Market Infrastructure
FSB, IOSCO Issue Complementary Reports on Market Fragmentation
By Manesh Samtani | 06/06/2019
The FSB and IOSCO have separately published reports on market fragmentation as they seek to minimise its adverse effects on financial stability and market efficiency.
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