Operational Risk

Officials Installed at Chinese Securities Firm to Monitor Risks

08/05/2019

The CSRC has installed officials at a troubled securities firm, N-Securities, over concerns about excessive debt and inadequate risk management.

Clearing & Post-Trade

ASX Opens Testing Environment for CHESS Replacement

08/05/2019

ASX has made available the first of seven ‘drops’ of software code, with additional functionality set to be released at eight-week intervals.

KYC & CDD

Chinese Banks Instructed to Further Limit Foreign Currency Withdrawals

07/05/2019

Chinese banks have reduced the amount of US dollars customers can withdraw and are required to keep a watch list of clients who make frequent foreign currency withdrawals.

Credit Risk

AFMI Issues Guidelines for Funds on Debt Write-Offs, Haircuts

07/05/2019

The Association of Mutual Funds in India has issued new guidelines on how fund managers should write down debt and take haircuts for sub-investment grade securities.

Liquidity Risk

PBOC Cuts Reserve Requirement Ratios for Smaller Banks

07/05/2019

China’s central bank has cut the reserve requirement ratio for smaller, locally focused banks. This is the sixth RRR cut since the start of 2018.

Trading & Investment

Malaysia to Use Blockchain in Securities Borrowing and Lending

07/05/2019

Working with bank stakeholders, Bursa Malaysia is developing Southeast Asia’s first blockchain proof-of-concept for securities borrowing and lending.

Market Abuse

Temporary Relief to NSE Directors, Brokerages in Algo Case

07/05/2019

Three brokerages facing market bans had asked for a temporary stay to close out open futures and options positions.

Anti-Money Laundering

Malaysia Extradites Former Goldman Banker to US

07/05/2019

Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.

Anti-Money Laundering

Philippine FIU Seeks an End to Bank Secrecy Law

07/05/2019

The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.