Asia Risk/News
US still has no plans to give Asian sovereigns Dodd-Frank exemption, says Hong Kong regulator
Asian countries are concerned about the lack of Dodd-Frank Act CCP exemptions for sovereigns; proliferation of CCPs carries its own risks, say dealers
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
BNP Paribas names Hawley as Asia fixed-income head as Foch takes global role
BNP Paribas is relocating its head of fixed income for the Americas, Bob Hawley, to Asia to take over from incumbent Henri Foch, who will move to London as global deputy head of fixed income in London
Chi-East moves to connect Asia's dark pools
Joint venture between Singapore Exchange and Chi-X Global expects to announce four new members in the next two months
Asia overtakes Europe as home to most millionaires, survey finds
Hong Kong sees world's fastest growth in population of wealthy individuals, according to BAML/Capgemini survey
Risk India: Tough regulation needed for 'quality' growth
Panel discussion focuses on the need to control fast-growing financial sector, and learn from regulatory conflicts in US and Europe
Risk India: ETFs set to grow in India, but regulators wary of systemic risk
A panel of experts at the Risk India conference in Mumbai believes the ETF market is set for growth in India, but expressed concern about synthetic products
Indian insurance regulator adopts industry software for product vetting
The Indian insurance regulator is ramping up its product approval process, after adopting the same pricing software as its insurers – and the signs are that more Asian regulators may follow this trailblazer.
Insurers poised to arbitrage Solvency II-compliant rivals in Asia
Insurance companies active in the Asia-Pacific region are closely studying their European rivals to exploit any regulatory arbitrage opportunities presented as European Union insurers move to adopt Solvency II risk capital rules. But short-term gains in…
China banking regulator eases lending rules for small businesses
The China Banking Regulatory Commission has eased regulatory capital requirements on the small business lending activities of banks, effectively carving these out from loan-deposit ratios. The move looks set to bolster lending to small enterprises while…
Industry chiefs call for Asian credit rating agency; 'big three' too ‘US-centric’
Senior industry figures in Asia, including outgoing SFC chief Martin Wheatley, say Asia needs an internationally recognised ratings agency to compete with Fitch, Moody’s and Standard & Poor’s.
JP Morgan bolsters Asia equity derivatives team with two new hires
JP Morgan has added to its equity derivatives group in Asia by raiding Goldman Sachs and Morgan Stanley
Outgoing SFC chief slams Geithner on regulatory arbitrage comments
Martin Wheatley, the outgoing chief executive of the SFC, dismissed suggestions Asia may attempt to use regulatory arbitrage to the detriment of the US; Alexa Lam, named as the interim CEO
Singapore’s GIC to name Chia as successor to Sung as CRO
GIC has appointed Chia Tai Tee to succeed Sung Cheng Chih as chief risk officer. The move is part of a managed succession. Sung, who warned of the dangers of CDO investments prior to the financial crisis of 2007/2008, will remain as a consultant to the…
JP Morgan private bank recruits Lum to cater to China ultra-high-net-worth individuals
The US bank has continued its recruitment drive in the region, snaring Rebecca Lum from UBS to look after wealthy Chinese individuals offshore
BNY Mellon names Alan Harden as first CEO for Asia-Pacific
BNY Mellon Asset Management has hired Alan Harden from ING Investment Management as its first chief executive for the Asia-Pacific region.
Korean regulator cracks down on scalpers arbitraging warrants market
The FSC in South Korea has introduced new measures aimed at stopping scalpers from making undue profits in the warrants market. But dealers are concerned the new rules are inadequate and may shrink the market unnecessarily as a consequence.
BoAML hires Peter Fung as head of Asia equity derivatives trading
Bank of America Merrill Lynch has hired Peter Fung from Deutsche Bank as head of corporate equity and fund derivatives trading for the region as it seeks to broaden the bank's equity derivative franchise with corporate and institutional clients.
Risks lie ahead for China's internationalisation of renminbi, warn IMF, PBoC and HKEx officials
IMF Hong Kong representative, a former PBoC MPC member and HKEx chief warn of risks for China as the internationalisation of the renminbi starts to gather pace.
Former PBoC policy member warns of renminbi depreciation risk
Fan Gang, a former member of the monetary policy committee of the People’s Bank of China, warns investors of the risk the Chinese currency may not continue to appreciate against the US dollar at a forum in Hong Kong today.
Credit Suisse names Jewell-Tait as head of private banking for Australia
The Swiss banks names Edward Jewell-Tait as its Australian private banking head and says it will continue to add more senior bankers in Australia to strengthen its business in the market.
Increase in corporate hedging boosts derivatives industry in Asia
Banks in the Asia-Pacific region have benefited from a more active year in derivatives, as corporates seek to hedge their currency and interest rates exposures following a slowdown during the financial crisis
MAS confirms finance minister as new chairman
The Monetary Authority of Singapore names Shanmugaratnam as part of ongoing management reshuffle