Market Infrastructure

FMA Consults on Exemptions for New Financial Advice Regime

19/08/2019

The FMA considers that it may be useful to continue existing exemption relief for Australian licensees and advisers already meeting ASIC requirements.

Securities / Derivatives

Respondents ‘Broadly Supportive’ of New RMBS Framework: RBNZ

16/08/2019

The RBNZ says submissions to its November consultation were broadly supportive of the proposed new standard for mortgage bonds – the RMO framework.

Market Infrastructure

CSDC Consults on Draft Clearing, Settlement Rules

16/08/2019

The rules cover financial resources management and multilateral netting, specifying how the CSDC will handle defaults from settlement participants.

Enforcement

SFC Fines Sincere Securities for Internal Control Failings

16/08/2019

The SFC and an independent reviewer identified deficiencies across 14 areas of Sincere Securities’ business operations and internal controls, resulting in a fine of HK$5mn.

AML / KYC

Singapore Crypto Sector Consults on AML/CFT Code of Practice

15/08/2019

The code was facilitated by MAS and developed in consultation with ABS by ACCESS, the Association of Cryptocurrency Enterprises and Start-ups, Singapore.

Securities / Derivatives

Shanghai to Allow Multinational Firm Employees to Trade A-Shares

15/08/2019

The initiative is aimed at encouraging more multinational companies to set up their regional headquarters in Shanghai, which seeks status as a global financial centre.

Market Infrastructure

APRA Consults on Adjusted Schedule for Initial Margin Rules

15/08/2019

APRA is consulting on changes to the implementation schedule for initial margin requirements in Australia, in line with the one-year phased extension granted by BCBS and IOSCO last month.

Securities / Derivatives

Bursa Malaysia Revamps Rules for Derivatives Market Participants

15/08/2019

The updated rules allow non-face-to-face onboarding, remove voice logging for client orders, and introduce higher governance standards, among others.

Capital / Liquidity

APRA Orders Allianz to Raise Capital Level by A$250m

15/08/2019

APRA wants to send a message to the insurance and super sectors that it expects the same high standards of risk management, including for non-financial risks, as it does for banks.