AML / KYC

HKMA Launches Smart Banking Initiative Including Enhanced Sandbox

29/09/2017

In addition to the enhanced sandbox, HKMA will also work on a new payment system, minimising regulatory friction in onboarding and other services.

Crypto / Digital Assets

DLT Essential for Capital Market Participants to Meet Regulatory Obligations – JPX

21/09/2017

Market participants can’t meet diverse regulatory requirements without using DLT to share back office and post-trade functions, report suggests.

Fintech / Regtech

ASEAN Fintechs, Banks Set up Pan-regional Sandbox to Boost Financial Inclusion

21/09/2017

Sandbox board includes ASEAN Bankers Association, Monetary Authority of Singapore and is being advised by Intel, Microsoft Asia Pacific and IBM Philippines.

Securities / Derivatives

HK SFC Inquiries Reveal Fund Managers’ Best Execution Failings

18/09/2017

Investigations of about 250 firms including subsidiaries of US and EU players also find weaknesses in avoiding conflicts of interest and liquidity management.

Capital / Liquidity

China Joins US in Leading Bank Profitability as Capital Shortfalls All but Disappear

13/09/2017

BIS report on Basel III finds US and China make up more than half the profits of the world’s Group 1 banks; TLAC shortfall of 12 G-SIBs tumbles to $360mn.

AML / KYC

China ICO Ban Isn’t Permanent – State-backed Thinktank Says

12/09/2017

Researcher at Institute of Finance and Banking says ban is only temporary; previous reports have suggested regulators are working on ICO framework.

Fintech / Regtech

DLT Not Yet a Solution for Large Central Bank Applications – BOJ

11/09/2017

Japanese central bank and European counterpart conclude from ‘Project Stella’ tests of DLT in RTGS that the technology is not yet mature enough.

Enforcement

ASIC Eyes Accountability for Algorithmic System Operators

11/09/2017

Regulator’s chairman says each algorithmic system must have designated individual responsible for design and outcomes, echoing new bank accountability regime.

Capital / Liquidity

Don’t Expect New EU Equivalency Decisions for Asia

07/09/2017

Ben Pott, head of government affairs at NEX Group, suggests Brexit and the time taken to resolve US-EU CCP issue, make equivalency rulings unlikely.