Manesh manages the news desk and serves as an editor at Regulation Asia. He covers regulatory changes across Asia Pacific that impact banking, capital markets, asset management, and financial services more generally. Manesh is a former trader and investment consultant with a degree in Finance and Banking. manesh@regulationasia.com
Securities / Derivatives
How Super Funds Are Bolstering Trust in Their Valuations
18/05/2023
S&P Global’s Peter Alleston says trust in the superannuation industry relies on timely, transparent, accurate and reliable valuations, particularly for unlisted assets.
Big Picture
BIS Paper Identifies Gaps in Regulatory Frameworks for Crypto
18/05/2023
The paper says authorities should consider regulations for utility tokens, governance tokens, DeFi actors, and crypto firms that resemble financial conglomerates.
Capital / Liquidity
Fed Plans to Toughen Capital, Liquidity Rules for Banks
18/05/2023
Fed, FDIC and OCC officials as well as former executives from failed banks testified before lawmakers this week.
Securities / Derivatives
SFC Chief Outlines Measures to Develop REITs Market
17/05/2023
REITs could be allowed under Stock Connect, structured in a corporate (rather than trust) form, and add a renminbi counter for trading.
Market Infrastructure
MAS Issues “Close-to-Final” Derivatives Reporting Rule Updates
16/05/2023
MAS set October 2024 as the commencement date for its new OTC derivatives reporting rules, aligning with ASIC.
Securities / Derivatives
Northbound Trading for Swap Connect Has Launched
15/05/2023
At the opening bell, 37 transactions worth about $273mn were executed involving participation from 16 foreign institutions.
Capital / Liquidity
Supervisors Need More Guidance on Using Pillar 2 Tools
15/05/2023
Many prudential risks that arise from rising interest rates are “beyond the scope of Pillar 1” and are “more effectively addressed” through a robust Pillar 2 supervisory review process.
Capital / Liquidity
FDIC to Charge Banks $16bn to Recover SVB, Signature Losses
14/05/2023
The FDIC proposes to require lenders with more than $50bn in assets to cover 95% of the losses associated with the SVB and Signature Bank failures.
AML / KYC
Australia Budget Offers Funding for AML, Scams, Cyber
10/05/2023
Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.
AML / KYC
MAS to Consult on Scam Loss Sharing Framework in Q3
09/05/2023
Senior Minister Tharman Shanmugaratnam said the framework will include obligations for telcos, not just FIs and consumers.
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