Market Infrastructure

SWIFT Publishes Blueprint to Assist EU Banks in ISO 20022 Transition

21/05/2020

SWIFT will provide new market practice guidelines and free validation and translation software to mitigate the impact of the ISO 20022 delay on EU banks.

Market Infrastructure

Financial Sector Suffers More Cyber Attacks Than Any Other Sector

21/05/2020

But, because the financial sector spends more on IT security and manages the risks better, it also suffers lower costs than other sectors.

Securities / Derivatives

SEBI Provides Exit Route for Franklin Templeton Investors

21/05/2020

Franklin Templeton will be allowed to list units of its six shuttered mutual funds on stock exchanges, providing an alternate exit route to investors whose money is trapped.

Securities / Derivatives

S. Korea to Introduce New Measures to Enhance ABS Markets

21/05/2020

The requirement for ABS issuers to be rated BB or higher will be removed to facilitate the use of securitisation for SME and startup financing, among other measures.

Securities / Derivatives

Fidelity Applies for Approval to Sell Retail Funds in China

21/05/2020

Fidelity already operates four privately managed funds in China targeting institutional clients and high net-worth individuals.

AML / KYC

Westpac Removes EY as Auditor for Upcoming Risk Review – Report

20/05/2020

EY’s 2017 review of Westpac highlighted poor data quality, outdated infrastructure, incompatible systems, capacity issues, manual workarounds and historical underinvestment.

Fintech / Regtech

HK Banks See Fintech More As Opportunity Than Threat – Study

20/05/2020

Over the next ten years, banks expect to continue to play a key role in fintech innovation and adoption, and are confident they will not be displaced by new competitors.

Securities / Derivatives

Hong Kong: Securities Industry Subsidies to be Available from 25 May

20/05/2020

A cash subsidy of HK$50,000 will be available for securities firms ranked 15th onwards by market turnover, and HKD 2,000 for each individual licensed by the SFC.

Market Infrastructure

RBI Directs IFSC Banking Units to Report OTC Trades to CCIL

20/05/2020

IFSC banking units are required to report their OTC foreign exchange, interest rate and credit derivative transactions to CCIL’s reporting platform from 1 June.