Fintech / Regtech

NZX to Create Industry Working Group on Capital Markets Technology

30/11/2020

The working group will develop a roadmap to solve for New Zealand’s lack of scale and geographic isolation through the use of technology.

Securities / Derivatives

SFC Finalises Changes to Grant Greater Flexibility to REIT Managers

29/11/2020

REITs will be allowed to invest in minority-owned properties and property development projects, and borrowing limits will be increased.

AML / KYC

UK Crime Agency Reveals Progress of SARs Reform Programme

29/11/2020

Law enforcement will get a new single interface providing access to search, analysis and visualisation tools. SARs reporters will see the SAR Online portal upgraded.

AML / KYC

EU Set to Formalise Magnitsky-style Sanctions Regime

29/11/2020

New legislation provisionally agreed by member states will allow the EU to target individuals who commit gross human rights violations irrespective of nationality.

Enforcement

US OCC Fines JPMorgan for Weak Controls Over Fiduciary Activities

29/11/2020

The deficiencies identified by the OCC constituted unsafe or unsound practices that were part of “a pattern of misconduct”, says the consent order.

Fintech / Regtech

Australia, Singapore to Trial Paperless Trade Using Blockchain

29/11/2020

The Australian Border Force, Singapore Customs, and IMDA, as well as industry groups and financial institutions, will participate in the trial.

Market Infrastructure

Australia Gets New Guidance for Internal Auditors in Financial Services

29/11/2020

The Better Practice Guide was developed by industry practitioners with APRA and ASIC serving as vocal observers and EY and KPMG providing secretariat support.

Securities / Derivatives

TFEX Announces Launch of Japanese Rubber Futures Contract

29/11/2020

The cash-settled rubber futures contract will use the Osaka Exchange’s RSS3 futures delivery prices as settlement prices on the Thailand Futures Exchange.

Capital / Liquidity

BSP Issues Draft Rules for Islamic Bank Liquidity Management

29/11/2020

Due to the limited availability of liquidity management instruments which are appropriate for Islamic banks and banking units, the BSP will adopt a flexible approach to compliance.