JP Reimann

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    JP advises fintech firm FinFabrik, and its clients, on regulatory and compliance matters, and is a frequent contributor to Regulation Asia. jp@regulationasia.com

    Articles by JP Reimann

    Enforcement

    S.Korea to Strengthen Supervision, Consumer Protection

    11/06/2018

    New task force to improve consumer protection by holding firms more accountable for unlawful sales of financial products and services.

    Enforcement

    CBIRC, SFC to Cooperate on Cross Border Supervision

    11/06/2018

    New MoU to facilitate information exchange in the interest of investor protection, promoting competence and integrity of regulated entities, market and financial integrity, and maintaining financial stability.

    AML / KYC

    ASIFMA Publishes AML/KYC Best Practice Paper

    11/06/2018

    Industry group focuses on nine AML/KYC areas, largely drawn from industry consensus of best practices currently applied by members in Hong Kong and Singapore.

    Enforcement

    S. Korea Regulator Probes Goldman Sachs for Short-Selling Settlement Failures

    11/06/2018

    Goldman Sachs Seoul branch unable to buy back stock which it had sold short, indicating borrowed stocks were not in its possession at the time of short selling.

    Market Infrastructure

    PBOC Develops Blockchain System to Digitise Paper Checks

    07/06/2018

    Central bank to reduce fraud by tokenising checks with blockchain and having operations conducted by smart contracts; new system will remove manual cross-checking process, shorten transaction times to about 3 seconds.

    Market Infrastructure

    ISDA Seeks Feedback on Common Domain Model for Derivatives

    07/06/2018

    First digital version of the ISDA CDM covers interest rate and credit derivatives products; aims for efficiency, interoperability, reduced complexity in derivatives market.

    Capital / Liquidity

    FSB Seeks Feedback on TLAC Implementation, Adequacy

    07/06/2018

    Review focused on regulatory adoption, cross-border aspects of implementation, overall progress towards meeting TLAC requirements, instruments issuance and distribution, among others.

    Market Infrastructure

    S. Korean Banks Create Self-Regulating Hiring Guidelines

    07/06/2018

    Guidelines will reintroduce written exams, involve outside experts in screening and interviews, adopt “blind recruitment” to prevent discrimination, and abolish recommendation-based hiring.

    Capital / Liquidity

    FSB Consults on Third Peer Review on Bank Resolution

    06/06/2018

    Focus on D-SIBs and other banks that could be systemic in failure and are included in resolution planning at a jurisdictional level; feedback sought by 4 July.

    Market Infrastructure

    New Zealand Publishes Revised Code of Banking Practice

    04/06/2018

    New code promises fair treatment, clear communication, customer privacy, responsible lending, effective complaints handling.

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