Enforcement

APRA to Improve Capabilities to Combat Non-Financial Risks

30/08/2019

In its four-year corporate plan, APRA identifies four areas of strategic focus, including to improve cyber-resilience and governance standards in the financial sector.

Capital / Liquidity

HKMA Allows Lenders to Expand Use of Tech in Retail Lending

30/08/2019

The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.

Fintech / Regtech

MAS Opens Applications for Digital Bank Licences

30/08/2019

Successful applicants will be announced in mid-2020, with the expectation that they meet MAS requirements and commence business by mid-2021.

Enforcement

Tokyo Bourse Penalises Nomura for Information Leak

30/08/2019

The TSE says internal controls at Nomura Securities were insufficient, and measures it took after a similar incident in 2012 did not seem to have improved compliance.

Market Infrastructure

WFE Warns EMIR 2.2 Could Unduly Fragment Global Markets

29/08/2019

The WFE has issued a letter to the European Commission and ESMA outlining principles it says would support the objectives of EMIR 2.2 while limiting its negative consequences.

APRA Finalises Rules for How Super Funds Must Assess Performance

29/08/2019

Starting in January, superannuation licensees will be required to perform business performance reviews to assess whether they are delivering sound, value-for-money outcomes for members.

Enforcement

ASIC Focuses on Misconduct in Four-Year Corporate Plan

29/08/2019

ASIC will expand its use of behavioural sciences, data and technology and position itself as a more strategic and agile regulator.

Market Infrastructure

China to Allow Foreign Banks to Underwrite Interbank Market Bonds

29/08/2019

Foreign banks are currently limited to underwriting business involving offshore non-financial issuers. ‘Class A’ licences will allow them to underwrite bonds in the interbank market.

Capital / Liquidity

Japan FSA Plans New Measures to Ensure Regional Bank Sustainability

29/08/2019

To encourage consolidation among struggling regional lenders, the FSA may lower deposit insurance fees paid by banks that are more financially robust.