Big Picture

Financial Sector Cyber Resilience Relies on Global Cooperation – FSB

12/05/2019

Successful cooperation on cyber security will enhance financial sector resilience and prevent fragmentation, said the FSB’s secretary general Dietrich Domanski in speech to the G7.

Market Infrastructure

FMA, NZX Seek Public Views on Capital Markets Development Plan

10/05/2019

New Zealand’s Financial Markets Authority and the NZX are seeking public input on a 10 year plan to develop the nation’s capital markets.

Enforcement

MAS Imposes Multi-Year Bans for ‘Dishonest Conduct’

10/05/2019

Two former representatives of Jefferies Singapore colluded to trade against their firm using privileged information, representing ‘deceptive conduct’ which contravenes the SFA.

Fintech / Regtech

SEBI Directs Mutual Funds to Report on AI, ML Use

10/05/2019

Mutual funds will have to report on their use of AI and ML to facilitate investing, trading, dissemination of investment strategies and advice, compliance, operations and other activities.

Enforcement

Chinese Police Arrest Five More Fuxing Execs on Fraud Charges

10/05/2019

Four deputy presidents and the head of one of Fuxing’s subsidiaries have been detained for illegal fundraising activities, following charges brought against the group’s chairman last July.

Market Infrastructure

Australia Seeks Mandatory Carbon Risk Reporting by 2021

10/05/2019

A green political party in Australia has announced a new policy that will make carbon risk reporting mandatory for banks, insurers, super funds and the largest listed companies in 2021.

Market Infrastructure

Australian Regulators Urge Action on LIBOR Transition

10/05/2019

Firms should be aware of the size and nature of their LIBOR exposures, put in place robust fall-back provisions in LIBOR contracts, and be taking action to transition to alternative rates.

Securities / Derivatives

China Allows Trading in Defaulted Corporate Bonds

09/05/2019

Following steep rises in corporate bond defaults, Chinese authorities have approved the trading of defaulted bonds on two exchange platforms.

ESG / Sustainability

Climate Change a Major Financial Risk, say APRA, ASIC

09/05/2019

“Ultimately there will only be one form of finance, and that will be green finance,” said APRA head of insurance Geoff Summerhayes at the ACSI annual conference.