Enforcement

FMA Cancels Financial Advice Provider’s Transitional Licence

15/12/2021

This was the first transitional licence cancelled by the FMA, due to “serious misconduct” by the company’s sole financial adviser at a previous employer.

SAFE Revises Reporting Requirements for Banks’ Overseas Activity

15/12/2021

Banks will have to report new items related to the London Stock Connect and Wealth Connect, as well as additional details on their overseas subsidiaries.

Big Picture

CPMI Reviews Developments in Retail Fast Payment Systems

14/12/2021

The implementation of retail FPS across the globe has risen from under a dozen jurisdictions in 2010 to around 60 in 2021.

Fintech / Regtech

China MIIT Issues Plans for Expansion of Big Data Industry

14/12/2021

The plan includes measures to establish a market-oriented data pricing mechanism, strengthen data governance and security, and establishment data trading platforms.

ESG / Sustainability

BOJ to Assess Market Functioning in Relation to Climate

14/12/2021

The BOJ will gather stakeholder views on how climate-related risks and opportunities are reflected in stock and bond prices and how to develop the ESG bond market.

Market Infrastructure

SWIFT Message Translation to Facilitate ISO 20022 Migration

14/12/2021

New service translates ISO 20022 messages to MT for banks that are not ready to process ISO 20022, which goes live in November 2022.

Capital / Liquidity

FSB Takes Stock of Approaches to Operationalising Bail-in

14/12/2021

In a new paper, the FSB provides an overview of practices, operational processes and arrangements as part of the bail-in process.

Market Infrastructure

FSB Explores Impact of Data Regulation on Cross-border Payments

14/12/2021

The FSB seeks to better understand how data requirements relating to privacy, security, storage, sharing and retention impact cross-border payments.

Market Infrastructure

RBI to Require LEI Use in Large Cross-border Transactions

14/12/2021

From 1 October 2022, AD Cat-I Banks will have to obtain LEIs from resident entities undertaking capital or current account transactions of INR 500 million and above.