Conduct, Culture & Accountability

Australian Regulator Launches CBA Inquiry

29/08/2017

APRA inquiry to look at whether governance, culture and accountability frameworks conflict with ‘sound risk management and compliance outcomes’.

Market Abuse

Korea Toughens Short-selling Rules

28/08/2017

Measures are expected to sharply increase incidences of excessive short selling; new categories of offence come with heavier maximum penalty.

Resolution & Recovery

Singapore Regulator Issues Resolution Regime

24/08/2017

Resolution regime includes four stage assessment criteria for financial institutions, emphasises private sector role; to be operationalised ‘in due course’.

Market Abuse

Cybercrime Threatening Market Integrity – ASIC

23/08/2017

Australian regulator says market integrity will be a top priority over the next six months amid a surge in related misconduct issues.

Credit Risk

S.Korea Eyes Deregulation to Encourage Banking Competition

23/08/2017

FSC to come up with deregulation plan by end-of year; wants more challengers to financial sector incumbents after approval of internet-only banks.

Cybersecurity

Philippines Central Bank to Embrace Regtech

21/08/2017

Regtech to include API for FIs’ reporting; BSP to push financial services firms to improve cyberdefences; two bitcoin exchanges get regulatory approval.

Cryptocurrency

Australia Signals Currency Status, AML Clampdown for Bitcoin

21/08/2017

Cryptocurrency to be brought under AUSTRAC; proposal to follow Japan in giving bitcoin legal tender status being considered by central bank.

Emerging Prudential Risks

China Financial Regulation Needs to be Stronger Still – IMF

17/08/2017

IMF praises measures such as inclusion of WMPs in bank assessments but cites concerns about growth in debt and banking sector assets.

Capital Adequacy

Australia Eyes Provisional Market Access for Aspiring Banks

16/08/2017

Restricted ADI licensees would need only $2.35mn in capital to take deposits; APRA paper does not address budget proposal to remove ‘bank’ capital requirements.