Banks and asset managers that use Asian benchmarks like the Hang Seng or Nikkei ...
HONG KONG - Banks and asset managers that use Asian benchmarks like the Hang Seng or Nikkei indices face a “perfect storm”, with two major regulatory changes slated to take effect the same day, a financial industry group said on Tuesday.
However, global authorities, particularly those in Europe, are now seeking to regulate benchmarks more tightly. However, a survey by the Asia Securities Industry and Financial Markets Association , released on Tuesday, found publishers have made little progress in meeting these standards. Fifty-five important benchmarks in the region could be affected by the rules, including some in Japan, Hong Kong and South Korea.
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