Structural Regulation

China Allows Provincial Regulators to Approve Asset-Backed Securities

20/06/2015

China has given powers to the provincial offices of its bank regulator to approve asset-backed securities in a bid to quicken the development of the securitisation market.

Payments & Settlements

CIPS to Launch by Year-End

19/06/2015

The People’s Bank of China has issued a report on RMB internationalisation, which includes confirmation of the year-end launch of its new payments system.

Cryptocurrency

Aussie Banks Test Digital Currency Ripple as New Payments Technology

19/06/2015

ANZ Bank and Westpac have joined Commonwealth Bank in testing new payments technology from US-based group Ripple Labs, representing a possible transformation of the payments industry.

Anti-Money Laundering

Japan, China, U.S. Jointly Push FATF on Virtual Currency Regulation

18/06/2015

Financial authorities of Japan, the United States and China plan to establish joint regulations to prevent the use of virtual currencies to finance illegal activities such as terrorism.

Structural Regulation

India Allows Foreign Venture Funds to Register as Foreign Portfolio Investors

18/06/2015

The Securities and Exchange Board of India says Foreign Venture Capital Investors can be granted status as Foreign Portfolio Investors if they meet certain guidelines.

Trading & Investment

China Encourages Listing Asset-Backed Securities on Stock Exchange

18/06/2015

China will promote the listing of asset-backed securities on stock exchanges, according to a China Banking Regulatory Commission official.

Trading & Investment

Hong Kong Brokers to Directly Access London Stock Exchange

16/06/2015

The Securities and Futures Commission (SFC) has granted a licence to the London Stock Exchange (LSE) to accept Hong Kong financial firms as exchange members.

Conduct, Culture & Accountability

Banks Face Tougher Penalties for Offering Incentives to Win Super Fund Business

16/06/2015

Banks and industry super funds will face tougher penalties for luring clients into default superannuation funds with incentives.

Structural Regulation

PFMIs Implementation Monitoring Assessment Report Shows Good Progress

16/06/2015

The second update to the Level 1 assessments of Principles for Financial Market Infrastructure implementation monitoring shows that good progress has been made by the 28 participating jurisdictions.