Market Infrastructure

MAS 610/1003 Pilot Testing Gateway Set for April Launch

02/03/2020

A six-month parallel reporting phase for the new MAS 610/1003 returns was meant to start from 1 April, but this was pushed forward by three months earlier in the year.

Capital / Liquidity

BIS Seeks Integration of Climate Risk in Prudential Framework

01/03/2020

At a recent BIS meeting, participants discussed how existing risk management requirements for banks and insurers could be adjusted to capture climate risk exposures.

AML / KYC

Hong Kong Announces Budget Initiatives to Boost Financial Sector

26/02/2020

The initiatives include a waiver on stamp duties paid by ETF market makers, tax concessions for private equity funds, and planned enhancements to Hong Kong’s AML/CTF regime.

AML / KYC

FATF Highlights Digital Identity, Virtual Assets as Key Priority Areas

24/02/2020

At its Plenary, the FATF highlighted the use of digital identity systems, the new standards for virtual assets, and efforts to tackle illegal wildlife trade as some of its key initiatives.

AML / KYC

FATF Commends Korea, Warns Pakistan, Blacklists Iran

24/02/2020

Korea has a sound legal and institutional framework. Pakistan is asked to complete its action plan. Countermeasures against Iran are reinstated.

Market Infrastructure

Australia: Preparing for the Financial Accountability Regime

21/02/2020

An essential first step to prepare for the FAR is for organisations to clarify internal lines of accountability, says APRA’s Helen Rowell.

Capital / Liquidity

JBA Rebuts BCBS Proposal on Sovereign Exposure Disclosures

18/02/2020

The JBA said the BCBS should focus on ensuring full, timely and consistent implementation of Basel III reforms, rather than setting “fragmentary voluntary add-ons”.

Market Infrastructure

ESMA Seeks BMR Exemptions for Noncritical, Third-country Benchmarks

18/02/2020

ESMA says BMR’s wide scope has led to an unintended consequence whereby third-country benchmarks are not incentivised to keep providing their benchmarks in the EU.

Enforcement

Korea to Strengthen Regulatory Framework for Hedge Funds

15/02/2020

The FSC will cap illiquid investments at 50% for open-ended funds, require them to conduct regular stress tests, raise transparency of complex fund structures, and enhance supervisory monitoring.