Fintech / Regtech

BCBS Assesses Bank Use of AI & Machine Learning

18/03/2022

The BCBS is exploring banks’ use of AI/ML, specifically in the areas of explainability, governance, and resilience and financial stability.

Capital / Liquidity

RBNZ Proposes to Allow Mutual Banks to Issue Capital Instruments

18/03/2022

Mutual banks are currently unable to issue CET1 capital instruments, making it difficult for them to raise loss-absorbing capital, restricting their lending growth, and impairing their ability to compete.

China Shelves Plans to Expand Property Tax Trial

18/03/2022

There are “no suitable conditions” to pilot the property tax reform in more cities this year, China’s finance ministry said.

Market Infrastructure

SGX Selects Tata Consultancy Services to Power GIFT Connect

17/03/2022

The GIFT Connect system will permit SGX members to place orders on NSE IFSC using FIX/proprietary APIs or the TCS BaNCS dealing terminal.

ESG / Sustainability

SGX RegCo Announces Sustainability Training Courses for Directors

17/03/2022

Board directors of SGX listed equity issuers are required to undergo mandatory sustainability training and provide confirmation in sustainability reports.

Enforcement

Seoul Court Upholds FSS Reprimand Against Hana Vice Chair

17/03/2022

The court ruled that Hana Financial Group vice chairman Ham Young-joo was responsible for failing to protect retail investors from high risk financial products.

Market Infrastructure

IBA Launches ICE Term SOFR Reference Rates

17/03/2022

The launch of ICE Term SOFR provides certainty when borrowers and lenders calculate their interest expenses and other contractual payments in advance.

Fintech / Regtech

SIX, LMAX Group to Launch 24/7 Traded Crypto Futures

17/03/2022

The launch will initially include centrally cleared USD settled Bitcoin and Ethereum futures, trading 23 hours, five days a week.

AML / KYC

Japan Crypto Exchanges Ordered to Comply with Sanctions

17/03/2022

Fines up to JPY 1 million and up to three years’ imprisonment are specified for non-compliance with sanctions by crypto exchange platforms.