Market Infrastructure

APRA Proposes Overhaul of Bank Data Transparency Norms

06/12/2019

APRA, in a letter to the industry, has proposed plans for classifying all data collected from banks for its quarterly publications to be considered non-confidential and publishable.

AML / KYC

IMF Commends Hong Kong’s Financial System Resilience

05/12/2019

The IMF also came out in support of the government’s policies to boost the economy, safeguard financial stability, and combat money laundering and terrorism financing.

Fintech / Regtech

Singapore Brokerages to Enter Race for Digital Bank Licences

04/12/2019

Domestic brokerages Phillip Securities and iFAST prepare to draw up applications digital banking licence to fend off competition from foreign entrants and domestic banks expanding into brokerage business.

Superannuation Advice to Members ‘Generally Appropriate’: ASIC

04/12/2019

ASIC’s survey of 25 superannuation funds found that close to half of them followed best interest duty rules in the provision of financial advice to members.

Market Infrastructure

FSB Releases Final Feedback on SME Financing Study

02/12/2019

The FSB undertook a study to understand the impact of Basel III on bank financing of SMEs and found no material impact on their access to capital and credit.

Crypto / Digital Assets

MAS Consults on Regulatory Approach for Crypto Derivatives

21/11/2019

The MAS has received indications of interest for bitcoin and ether derivatives, regulated under the SFA, to be made available to investors in Singapore.

Market Infrastructure

FSB Urges ISDA to Embed LIBOR Pre-Cessation Trigger in Definitions

21/11/2019

The FSB says a pre-cessation trigger should be added alongside a cessation trigger as standard language in definitions for both new and outstanding derivatives contracts.

Fintech / Regtech

Singapore Unveils New AI Framework for Financial Institutions

13/11/2019

The new ‘Veritas’ framework aims to improve internal governance among financial institutions around their solutions driven by artificial intelligence and data analytics.

Market Infrastructure

Singapore Deepens Cooperation with French, Canadian Regulators

13/11/2019

French central bank establishes first Asian office in Singapore to enhance financial market cooperation; Canadian securities authorities pledge information exchange and fintech access.