Fintech / Regtech

Asia Ahead of Other Regions in FinTech: IMF

04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.

CBIRC to Tighten Rules on ‘Cash Management Products’

04/07/2019

CMPs are issued by banks, offering higher yields than money market funds and promising a high level of liquidity, but there are no restrictions on how CMP funds can be invested.

Enforcement

Hong Kong Hedge Fund Penalised by CFTC, CME

04/07/2019

Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.

Market Infrastructure

ASIC Proposes Licensing Relief for Foreign Funds Managers

04/07/2019

ASIC proposes to exempt foreign fund management providers from the requirement to hold an AFS licence to provide services to professional investors in Australia.

Market Infrastructure

G-SIBs Making Steady, Significant Progress on TLAC: FSB

04/07/2019

The FSB says further efforts are needed to ensure that TLAC will be available in the right amounts at all locations within a group during a crisis.

Fintech / Regtech

Singapore Digital Banks to Disrupt Smaller Incumbents the Most

04/07/2019

Singapore’s big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody’s Investors Service.

Enforcement

SFC Gains Access to Mainland Audit Papers for Investigations

04/07/2019

The MOF and CSRC agree to provide the “fullest assistance” in response to SFC requests for investigative assistance regarding the provision of audit working papers.

Market Infrastructure

BOJ Publishes Consultation on JPY Interest Rate Benchmarks

03/07/2019

The consultation paper presents and evaluates five options that can be used as alternative benchmarks upon transition and as fallback replacement benchmarks.

Capital / Liquidity

“Most Banks” Support RBNZ Bank Capital Proposal

03/07/2019

The submissions from the RBNZ consultation on raising bank capital requirements show the proposals have broad public support, including from “most banks”.