APRA does not expect new rules to extend banks’ capital requirements beyond ‘unquestionably strong’ level set out last July.
Firm suggests fintech adoption has clear benefits, but the systemic risks from increased adoption have yet to fully emerge.
Inter-regulatory group concerned about ‘dearth’ of coherent law on customer data, recommends multiple measures to support development of fintech regulatory framework.
Agustín Carstens notes recent resolutions have not involved bail in; some G-SIB home authorities do not have cooperation agreements with foreign regulators.
New rules cover clearing and settlement, corporate governance by securities and fund management firms, and securities regulator’s powers.
Deputy chief of Monetary Authority also says banks cannot use ‘predatory tactics’ when competing for market share.
Bank reported financial adviser to regulator and dismissed them after uncovering misconduct involving more than $3mn.
Group of regulators says document represents ‘last step’ in its move to address systemic risk from open-ended funds.
Global police organisation says to increase information sharing, review AML/CTF rules pertaining to digital currencies, take action against cryptocurrency ‘tumblers’.
PBOC, CBRC say cost of setting up a parent holding company might outweigh the intended improvement in supervision.