Operational Risk

China SOEs Directed to Rein In Unauthorised Derivatives Trading

06/05/2021

SOEs are directed to ensure their subsidiaries are qualified and properly approved to trade financial derivatives, and able to manage the associated risk.

Sustainable Finance

MAS Launches FinTech Hackcelerator Focused on Green Finance

06/05/2021

Fintech firms and solution providers are invited to submit innovative solutions to address any of 52 problem statements related to green finance.

Trading & Investment

BSEC Allows Foreign Companies to Sponsor Mutual Funds

06/05/2021

Foreign companies will be allowed to become sponsors of mutual funds, subject to a maximum contribution of 25 percent of the find size.

Credit Risk

CBIRC Optimises Supervision of Foreign Banks in China

06/05/2021

The move is expected to allow foreign banks to play a role in facilitating China’s financial market opening-up and channelling funds into the economy.

Data Privacy

Australia Considers Making CDR Data More Portable

06/05/2021

Under draft rules, accredited businesses would be able to share CDR data with their agents, or sponsor other parties to become accredited.

Liquidity Risk

RBI Announces Support Measures for Second Covid Wave

05/05/2021

The measures include liquidity for bank lending to businesses, continued regulatory exemptions, and an additional round of restructuring and moratoria flexibility.

Market Abuse

ASIC Files Suit Against Westpac for Alleged Insider Trading

05/05/2021

ASIC says Westpac traded interest rate derivatives to pre-position itself while knowing it would be selected to execute a A$12bn interest rate swap hours later.

Anti-Money Laundering

US Lawmakers Call for ‘War-like Footing’ Against Corruption

05/05/2021

In a letter to Janet Yellen, two lawmakers have called for AML obligations to be expanded to hedge funds, private equity, and other professional enablers.

Anti-Money Laundering

AUSTRAC Orders Mutual Bank to Uplift AML Compliance

05/05/2021

Australian Military Bank is required to conduct a risk assessment, and then work to improve its KYC, transaction monitoring, EDD, and reporting systems.