Market Infrastructure

Regulatory Change the Single Biggest Compliance Challenge

02/07/2019

Financial crime, culture & conduct risk, personal liability and technology are some of the other top compliance challenges cited in the latest Thomson Reuters Cost of Compliance report.

Fintech / Regtech

BIS ‘Innovation Hub’ to Set Up in Hong Kong, Singapore

02/07/2019

The BIS Innovation Hub will foster collaboration between central banks and, by extension, help the private sector fully realise ‘new economy’ opportunities.

Market Infrastructure

Singapore Commences Transition Testing for Enhanced SIBOR

01/07/2019

Transition testing will be conducted initially for six months to determine if a transition to the proposed waterfall methodology is possible or if further refinements are needed.

Market Infrastructure

ASIC Approves Updated Banking Code of Practice

01/07/2019

ASIC is assessing changes to the Code proposed by the ABA in two stages, the first of which has been approved and is reflected in the latest version which took effect on 1 July.

Securities / Derivatives

Hong Kong Finalises List of FSPs Under Clearing Obligation

01/07/2019

The list of Financial Services Providers identifies major dealers outside Hong Kong that are under the clearing obligation.

Securities / Derivatives

SEBI Approves Tighter Norms for Mutual Funds

01/07/2019

At its latest board meeting, SEBI approved tighter norms for mutual funds and pledged shares, while also approving a new framework for shares with differential voting rights.

Capital / Liquidity

India’s Banks Are Becoming More Resilient: RBI

01/07/2019

The RBI says gross NPA ratios and loan provisioning are improving, but it warns that capital adequacy at some banks will fall below requirements without more government cash.

Market Infrastructure

APRA Consults on Approach to Product Responsibility under BEAR

01/07/2019

APRA proposes to require ADIs to identify and register an accountable person to hold end-to-end product responsibility for each product offered to customers.

AML / KYC

FATF Finalises AML/CFT Guidance for Service Providers

01/07/2019

New guidance for legal, accounting, and trust and company services professionals highlights the importance of identifying and verifying beneficial ownership information through due diligence.