Enforcement

Stronger Whistleblower Protections Take Effect in Australia

02/07/2019

The stronger protections for whistleblowers apply to misconduct or an improper state of affairs or circumstances, not just breaches of the law.

Market Infrastructure

ESMA Recognises NSE IFSC Clearing Corp as Third Country CCP

02/07/2019

The recognition ensures European participants can apply lower risk to trade exposures to NSE IFSC Clearing Corporation and thus benefit from lower capital requirements.

Market Infrastructure

ASIC to Hold Public Hearings on Responsible Lending

02/07/2019

The public hearings will provide a “robust and transparent way” to air issues and views raised in written submissions responding to ASIC’s February consultation on responsible lending.

Crypto / Digital Assets

Taiwan Targets October Start Date for World’s First STO Rules

02/07/2019

Fundraising through STOs will be capped at TWD300mn; individual investors will be allowed to purchase up to TWD300,000 worth of security tokens.

Market Infrastructure

Regulatory Change the Single Biggest Compliance Challenge

02/07/2019

Financial crime, culture & conduct risk, personal liability and technology are some of the other top compliance challenges cited in the latest Thomson Reuters Cost of Compliance report.

Fintech / Regtech

BIS ‘Innovation Hub’ to Set Up in Hong Kong, Singapore

02/07/2019

The BIS Innovation Hub will foster collaboration between central banks and, by extension, help the private sector fully realise ‘new economy’ opportunities.

Market Infrastructure

Singapore Commences Transition Testing for Enhanced SIBOR

01/07/2019

Transition testing will be conducted initially for six months to determine if a transition to the proposed waterfall methodology is possible or if further refinements are needed.

Market Infrastructure

ASIC Approves Updated Banking Code of Practice

01/07/2019

ASIC is assessing changes to the Code proposed by the ABA in two stages, the first of which has been approved and is reflected in the latest version which took effect on 1 July.

Securities / Derivatives

Hong Kong Finalises List of FSPs Under Clearing Obligation

01/07/2019

The list of Financial Services Providers identifies major dealers outside Hong Kong that are under the clearing obligation.