Foreign companies will be able to set up individual entities, but must keep systems and data onshore.
System from Hitachi and NEC will identify potential unfair trading, but humans will still be relied on to interpret data.
Regulator says it has observed data governance regimes in other jurisdictions; says Chinese lenders’ data can be inaccurate, insufficiently comprehensive, and outdated.
Australian securities regulator warns on ‘malicious cybercrime’; says surveillance of OTC markets will be another 2018 priority.
Securities regulator says fine would have been much higher were it not for self-reporting of breaches, cooperation in inquiry and ‘remedial measures’.
Advisory group will develop best practices for the industry, including more inclusive, skills-based hiring policy.
Staff at the firm and their associates alleged to have used more than 300 trading accounts to make illicit profits of $150mn.
Move follows MAS consultation on moving all OTC derivatives contracts onto organised markets.
Report shows Hong Kong has biggest credit-GDP gap and the highest debt service ratio among 9 APAC economies.
Report suggests asset growth has slowed, although city, rural and joint-stock banks could struggle to manage asset quality and capitalisation.