https://www.taxtmi.com/news?id=23381 Reforms replace prescriptive requirements with principle-based regulation for interest rate and foreign exchange derivatives, relax residency distinctions, allow hedging of anticipated exposures and greater access for small hedgers, and enact legal recognition of bilateral netting. Complementary measures promote onshore-offshore integration by permitting banks in offshore rupee derivative markets, extending foreign exchange trading hours and enabling GIFT City rupee derivative activity. Safeguards include a User Classification Framework limiting complex products for retail users, mandated fee disclosures, an anonymous FX retail trading platform, a market abuse regulatory framework, LEI mandates, and benchmark governance reforms for the LIBOR transition. en-us Thu, 26 Nov 2020 16:38:42 +0530 Thu, 26 Nov 2020 16:38:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23381 Reforms replace prescriptive requirements with principle-based regulation for interest rate and foreign exchange derivatives, relax residency distinctions, allow hedging of anticipated exposures and greater access for small hedgers, and enact legal recognition of bilateral netting. Complementary measures promote onshore-offshore integration by permitting banks in offshore rupee derivative markets, extending foreign exchange trading hours and enabling GIFT City rupee derivative activity. Safeguards include a User Classification Framework limiting complex products for retail users, mandated fee disclosures, an anonymous FX retail trading platform, a market abuse regulatory framework, LEI mandates, and benchmark governance reforms for the LIBOR transition. News - Thu, 26 Nov 2020 16:38:42 +0530 https://www.taxtmi.com/news?id=23381