Foreign banks say added requirements are unnecessary, as their US branches are limited in their activities, rarely hold federally insured deposits, and are subject to home country rules.
Australia's four months old 'one stop shop' for financial services dispute resolution has finalised 18,390 complaints, yielding more than A$54mn in awards to consumers and small businesses.
The SSE gave its first indication of a launch date for the new science and technology board in a WeChat post, saying the trading system will be ready at the end of May.
Lawmakers want the securities transaction tax abolished. The government want a more gradual approach. FSC chairman Choi Jong-ku welcomes either discussion.
The ICO framework covers issuer eligibility, transparency in disclosures, and utilisation of proceeds. The property crowdfunding framework was first announced in Budget 2019.
The CSRC said it made the decision after receiving an application from the IMF, whose RQFII investment quota has not yet been revealed.
Both guidelines under consultation continue to emphasise the importance of risk culture, and the roles of the board and senior managers in technology risk and business continuity management.
APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.
Highlights will include measures to accelerate financial innovation, approve online-only banks, launch a regulatory sandbox, and strengthen consumer and investor protection.
Under Japan’s Presidency this year, the G20 financial sector agenda will centre on addressing market fragmentation, technological innovation and the problems of aging societies.