Market Infrastructure

FCA, ASIC Ensure Post-Brexit Continuity, Cooperation

08/04/2019

The FCA and ASIC have signed MoUs on trade repositories and alternative investment funds, and adopted existing equivalence decisions on their supervisory and regulatory regimes.

Fintech / Regtech

Korea FSS to Facilitate ‘Responsible’ Innovation by Foreign Firms

08/04/2019

FSS governor Yoon Suk Heun urged foreign financial firms to bring in “a new wave” of financial inclusion and responsible innovation to spur sustainable growth in Korea’s financial industry.

Fintech / Regtech

ACCC Publishes Draft Rules for Open Banking Data Sharing

08/04/2019

The draft rules provide detail and guidance as to how the Consumer Data Right will work in the banking sector starting in July this year.

Market Infrastructure

Bursa Malaysia to Operate on T+2 Settlement from 29 April

08/04/2019

Bursa Malaysia will migrate to T+2 settlement starting from 29 April, putting it in line with the financial markets of developed countries.

Securities / Derivatives

Bangladesh Exchanges Lobby for Lower Taxes to Spur Capital Market

08/04/2019

The Dhaka and Chittagong stock exchanges have asked for tax cuts on dividends, bonds, stock transactions, and their own income, in a bid to catalyse Bangladesh’s capital markets.

Capital / Liquidity

RBI Defers Mandatory Pegging of Loan Rates to External Benchmarks

08/04/2019

The RBI has deferred a requirement for banks to link loan rates to external benchmarks, citing difficulties the change presents to banks’ interest rate risk management.

Fintech / Regtech

Taiwan FSC to Launch New Trading Platform for STOs

08/04/2019

In new laws expected in June, the FSC will initially allow firms to offer STOs offering interest payments as with bonds, and prohibit companies from offering equity-like tokens.

Capital / Liquidity

China’s Henan Province Has an NPL Problem – Report

08/04/2019

Of Henan’s 93 commercial banks, 42 have high levels of nonperforming loans, a dozen of which reported an NPL ratio above 20%, ‘several’ as high as 40%.

Market Infrastructure

ASEAN Pushes for Cross-Border Settlement in Local Currencies

08/04/2019

ASEAN central bankers are setting up direct settlement systems that use local currencies, in a bid to reduce transaction costs and exposures to global volatility.