Our goal is to be a leading centre for green finance in Asia and globally, said Singapore Minister for Education Ong Ye Kung at Singapore Fintech Festival x SWITCH 2019.
As part of an ecosystem approach to fintech development, HKMA chief Eddie Yue wants to work with FIs, end users and technology firms to drive innovation in financial services.
Under the new framework, announced at Hong Kong Fintech Week, platform operators that offer trading in virtual assets classified as securities may seek Type 1 and Type 7 licences from the SFC.
The draft guidance analyses the use, reliability and independence of digital ID systems, and looks at how they can meet FATF requirements around customer due diligence.
The proposed settlement would resolve civil forfeiture cases tied to Low, but does not release him from other criminal charges. Low gets to keep $15mn to pay his lawyers.
Market fragmentation poses serious risks to the liquidity and health of the derivatives markets, said CFTC commissioner Brian Quintenz at the ISDA Annual Japan Conference.
The BOJ warns of a buildup of risks from lending to “low-return borrowers”, delayed loan restructuring, and overseas exposures to leveraged loans and CLOs.
Regulators can help to mitigate the cyber threat by promoting contingency planning in banking and enabling information sharing among banks and regulators.
Existing Libor-referencing contracts that don’t have robust fallback provisions in place will be tied up in very lengthy disputes, warned the RBA’s Christopher Kent at ISDA’s Australia Conference.
The SFC expects sponsors to conduct sufficient due diligence to properly understand and assess the companies seeking to be listed, and to ensure red flags are properly followed up.