Attorneys from Han Kun Law Offices examined the use of total return swaps by non-People's Republic of China ("PRC") investors to access securities listed and traded on PRC exchanges and the interbank bond market.
The CFTC Division of Swap Dealer and Intermediary Oversight granted time-limited no-action relief to Japanese-regulated swap dealers from the timing requirements relating to posting and collection of variation margin.
ISDA added a Japanese jurisdictional module to its Resolution Stay Jurisdictional Modular Protocol. The new module is intended to facilitate compliance with Japanese regulations that require contractual stays to be included in certain financial contracts that are not governed by Japanese law.
The Hong Kong Securities and Futures Commission granted CME Group authorization to provide OTC clearing and settlement services and to serve as a central counterparty in the territory. CME also obtained full recognition as a foreign central counterparty in Mexico.
The Financial Crimes Enforcement Network proposed prohibiting covered U.S. financial institutions from engaging in certain foreign correspondent account activities with North Korean financial institutions. The proposal was published in the Federal Register.