Enforcement

ASIC Plan to Embed Staff Could Impede Banking Function

13/08/2018

ASIC’s plan to embed its own staff as officers at major Australian banks will affect risk taking and how the Australian public is served by the financial services industry.

Market Infrastructure

China’s Opening Up to Foreign Third Party Online Payment Firms

06/08/2018

Stricter regulations are intended to limit abuses, improve government oversight and allow the entry of foreign enterprises for the first time. But, a more comprehensive framework is needed to manage systemic risk posed by the sector’s rise.

Fintech / Regtech

China’s Ant Financial and WeBank – ‘Too Big to Regulate’

02/08/2018

The Chinese government has allowed unregulated online participants to innovate and grow in a sector traditionally dominated by state banks. Systemic risk has increased by not imposing strict and comprehensive regulatory regimes.

Enforcement

And Justice For All Banks

30/07/2018

Directly fining banks for the misdeeds of former executives has proven to be unproductive. Yet, determining personal liability for individual bank officers continues to be an elusive and difficult task.

Fintech / Regtech

China P2P Lending Sector Survival Relies on Better Regulation

26/07/2018

P2P platform failures due to liquidity shortfalls have crippled a key source of retail credit for consumers and small businesses. The future of P2P lending in China. Regulators need to play a more dominant role in this growing and unruly industry to assure its survival.

Market Infrastructure

Misguided Derivatives Regulation Distorts Markets

23/07/2018

Basel’s new capital rules have impacted global derivatives markets by purging participants and liquidity. Whether or not this was the intended outcome, it will create onerous costs for entire markets and consumers.

Securities / Derivatives

The Hong Kong-China Stock (Dis)Connect

20/07/2018

The battle for large cap tech listings between HKEX and mainland exchanges ignited over Xiaomi this week, indicating that China’s strategic goal might be to prevent home-grown, multi-billion dollar “unicorn” companies from seeking listings on any overseas markets – including Hong Kong.

Market Infrastructure

Brexit Shifts Regulatory Powers to Continental Europe

16/07/2018

The UK government’s Brexit white paper reveals disappointing support for London’s global role in financial regulations. London could be disintermediated as a financial centre.

Market Infrastructure

Shift from London Financial Centre Gains Pace

12/07/2018

With nine months to go before Britain’s scheduled exit from the EU, the effects of Brexit are largely unknown and will take years to resolve. Yet, banks and asset managers have already begun planning for the relocation of staff and offices as the continent clarifies its financial regulations.