Australia Tables Final Tranche of Royal Commission-related Bills

06/11/2021

Legislation was introduced to establish the FAR and CSLR. Separate bills were introduced to improve the superannuation system and outcomes for litigation funding participants.

ESG / Sustainability

Bank Compensation Practices More Advanced Than Other FIs: FSB

05/11/2021

The use of balanced scorecards based on KPIs in determining compensation is “critical” to promoting a sound risk culture in a firm, the FSB says.

Market Infrastructure

China Further Tightens Rules on Cross-border Data Transfers

05/11/2021

Government reviews will be mandatory if data exporters handle personal data of more than 1 million residents, or the “sensitive” personal data of more than 10,000 people.

ESG / Sustainability

NGFS Members Reaffirm Commitment to Climate Action

05/11/2021

The “NGFS Glasgow Declaration” pledges central banks and supervisors to continue fostering action on climate change and greening the financial system.

ESG / Sustainability

IFC, HKMA Join Forces on New Climate Finance Initiative

04/11/2021

The programme will combine institutional investor contributions with IFC funds to scale up climate-responsible financing for private companies in emerging markets.

Securities / Derivatives

S. Korea to Relax Reporting Rules for FIs Investing Overseas

04/11/2021

The proposed rule changes seek to ease the reporting burden faced by financial firms with business operations and investments in overseas markets.

Market Infrastructure

DSB Seeks Feedback on Legal Framework for UPI Service

04/11/2021

The Derivatives Service Bureau proposes to use a single overarching legal agreement for users subscribing to OTC ISIN and UPI Services.

Capital / Liquidity

RBI Issues Revised PCA Framework for Weak Banks

03/11/2021

The profitability parameter has been removed in the revised PCA framework, which will also apply foreign banks operating in India through branches or subsidiaries.

Capital / Liquidity

UK Postpones Consultation Signalling Basel III Implementation Delay

03/11/2021

Implementation of the final Basel III requirements will not take place in the UK according to the globally agreed timeline.