Market Infrastructure

ASX to Streamline Transfers to CHESS Subregister

02/09/2019

ASX will remove a requirement for settlement-only participants to receive and provide a registrable transfer document for transfers, but will require validation checks.

Market Infrastructure

Singapore Takes Steps to Transition Away from SOR

02/09/2019

Singapore’s banking body and foreign exchange market committee have identified SORA as “the most robust and suitable” alternative interest rate benchmark to SOR.

Market Infrastructure

Shenzhen to Pilot Easier Rules on Foreign Exchange Transactions

30/08/2019

To facilitate payments in foreign currencies, SAFE’s Shenzhen branch will move away from the approval-based system to shorten settlement to just minutes rather than hours.

AML / KYC

BNM to Enforce AML Compliance at Law Firms in 2020

30/08/2019

BNM assistant governor Encik Adnan Zaylani Mohamad Zahid warns that enforcement action will be taken against legal professionals for AML non-compliance starting in 2020.

Securities / Derivatives

SEBI Extends Deadline for New Rules on Handling Client Securities

30/08/2019

Following feedback from stock exchanges and market participants, SEBI has decided to extend the effective dates in a June circular by one month.

Capital / Liquidity

UPDATED – PBOC Mulls New Rules to Reduce Risk at Smaller Banks

30/08/2019

The PBOC will encourage merger talks instead of bankruptcies when dealing with problematic financial institutions.

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.