NBFCs Must Appoint Chief Risk Officer – RBI

20/05/2019

The CRO must function independently, with no other responsibility or ‘dual hatting’, and report directly to the MD, CEO, or risk management committee of the board.

Market Infrastructure

Nasdaq Launches Global ESG Reporting Guide

17/05/2019

The new guide takes into account the TCFD recommendations, the UN Sustainable Development Goals, WFE guidance and best practices, and Nasdaq’s own pilot programme.

Market Infrastructure

Japanese Firms Ally in Support of Climate Risk Transparency

17/05/2019

The Japanese consortium adds nearly 100 more companies, including banks, to the growing list of firms that support the TCFD recommendations on climate risk disclosures.

Enforcement

NSE India Fines 250 Listed Companies

17/05/2019

India’s National Stock Exchange has fined 250 firms for non-compliance with its listing obligations and disclosure requirements.

AML / KYC

FSC Korea Fines Four Brokers for False Name Accounts

17/05/2019

South Korea’s FSC has fined four local brokerages for holding accounts belonging to Samsung Group chairman Lee Kun-hee under other people’s names.

Market Infrastructure

India to Quadruple Digital Transactions in Three Years – RBI

17/05/2019

In its three year roadmap for India’s payment and settlement systems, the RBI says it expects the number of digital transactions in the country to increase to 87 billion by December 2021.

Fintech / Regtech

Korea Delays Basel III for New Online-Only Banks

17/05/2019

Only Basel I rules will apply for the first three years after launch. Basel III will be phased in from the fourth year onwards, including NSFR and the leverage ratio.

Capital / Liquidity

BSP to Cut Reserve Requirements for Biggest Banks

17/05/2019

The 200 basis point RRR cut will take place over three phases by end-July, and free up an estimated $3.6bn in banking system liquidity.

Securities / Derivatives

‘No Concrete Timetable’ for Shanghai-London Connect – SSE

17/05/2019

The project to link the Shanghai and London stock exchanges has reportedly lost momentum in China, after earlier plans to launch in December were called off.