Enforcement

AFCA to Start Naming Financial Firms in October

13/09/2019

The move is aimed at increasing transparency and accountability in the financial sector, which will also enhance consumer confidence.

Capital / Liquidity

Global Banks’ India Business Impacted by Large Exposures Rules

13/09/2019

Foreign banks have to maintain sufficient capital in their India entities to increase their exposure to the country, rather than relying on guarantees from their overseas headquarters.

Fintech / Regtech

Taiwan FSC Clarifies Rules on Virtual Bank Boards

13/09/2019

Banks cannot have executives or board members serving concurrently as directors or supervisors at the virtual banks in which they are invested.

Enforcement

ASIC Issues Second Update on Response to Royal Commission

13/09/2019

Of 105 investigations and court actions underway against financial institutions at the end of July, 86 related to the big four banks and AMP.

Market Infrastructure

DTCC Outlines ‘No-Touch’ Vision for Post-Trade Processing

13/09/2019

Much of today’s post-trade process is still handled manually, resulting in greater risk, errors and costs, says DTCC in a new white paper, highlighting the need for a new approach.

Market Infrastructure

China Works Towards Unified Financial Infrastructure Regulation

13/09/2019

Work is underway to develop a unified framework for regulating and supervising critical financial infrastructures in China, where PBOC will be the main coordinating regulator.

Market Infrastructure

CSRC Announces Top 12 Priorities to Deepen Reforms

12/09/2019

The priorities include encouraging more medium- and long-term funds to enter the market, improving the legal system, and strengthening supervision.

Market Infrastructure

IOSCO Recommends UTC as Standard Clock for Timestamping

12/09/2019

IOSCO is seeking feedback on a recommendation that all member jurisdictions use UTC as the standard reference time source for timestamping reportable events.

Market Infrastructure

ASIC Extends Licensing Relief for Foreign Firms Ahead of New Regime

12/09/2019

The extension of licensing relief allows foreign financial services providers just over six months to decide whether they will apply for the new foreign AFS licence.