Sustainable Finance

Low-income Nations Make Progress on Sustainable Finance: SBN

25/06/2020

A study from the Sustainable Banking Network finds that sustainable finance has emerged as a pathway for low-income countries to de-risk investments and enable financial flows.

Trading & Investment

FMSB Issues Statement of Good Practice on Algo Trading

25/06/2020

The FICC Markets Standards Board sets out 10 Good Practice Statements for market participants and venue operators engaged in algorithmic trading in a new transparency draft.

Clearing & Post-Trade

HKMA, SFC Publish Final List of FSPs Under Clearing Obligation

25/06/2020

The HKMA and SFC will remove one entity that no longer conducts OTC derivatives business as its institutional services are now being provided by BofA Securities Inc, a new FSP.

Operational Risk

APRA Seeks Additional Data from Superannuation Licensees

25/06/2020

Superannuation licensees will have to report monthly and quarterly data covering areas such as complaints, insurance claims, operational resilience, FX exposure, and liquidity.

Fraud, Scams & Cybercrime

S. Korea to Crack Down on Predatory Lending

25/06/2020

South Korea is introducing a cross-agency task force to monitor for illegal loan sharking activities and an alert system to detect predatory loan advertisements.

Credit Risk

Chinese Authorities Intervene to Prevent Bank Runs – Report

25/06/2020

Local authorities in Hebei and Shanxi reportedly had to intervene last week to halt cash withdrawals at two small lenders amid rumours of mounting bad loans.

Anti-Money Laundering

NZ Police Seize $90m Allegedly Laundered with Bitcoin

25/06/2020

The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.

Conduct, Culture & Accountability

ASIC Issues ‘Best Interests’ Guidance for Mortgage Brokers

24/06/2020

Starting from 1 January 2021, ASIC will be closely monitoring conduct and outcomes to ensure mortgage brokers are effectively complying with the best interests duty.

Capital Adequacy

FSC Korea Identifies 10 D-SIBs for 2021

24/06/2020

Shinhan Financial Group subsidiary Jeju Bank has been removed pursuant to April’s temporary easing of regulations to exclude small-sized regional banks from the designation.