A new report from S&P says insurers’ high exposure to banks and cross-holdings between banks could heighten systemic risk.
In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.
Standardised notes are tradable beneficiary certificates backed by a pool of commercial paper or bankers’ acceptances with similar maturities.
A New Zealand court has reportedly convicted an unauthorised financial adviser of 38 charges relating to a long-running fraud which funded a lavish lifestyle of private jets and jewellery.
Financial institutions are encouraged to “actively carry out intellectual property pledge financing business” to provide greater support to innovative enterprises in their development.
The MoU covers case referrals, joint investigations, the exchange and use of information, mutual provision of investigative assistance, and capacity building.
Under the government's implementation roadmap, close to 90% of its remaining commitments will be implemented by mid-2020, and legislation for the rest will be introduced by end-2020.
It is widely believed that cash-settled contracts will increase trading activity and liquidity into and throughout expiry, and result in lower risk of failed settlement.
The new market-oriented mechanism for calculating the Loan Prime Rate is expected to lower the cost of borrowing nationwide.
The HKMA has adjusted its implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.