Fintech / Regtech

HKMA Issues Regtech Guide on Third-Party Risk Management

19/07/2022

The practice guide is meant to help banks plan the implementation of regtech solutions to address the risks associated with third-party relationships.

Crypto / Digital Assets

BOK to Commence CDBC Testing with Ten Commercial Banks

18/07/2022

The ten banks including Shinhan Bank and NH Nonghyup Bank will test CBDC remittances and payments between individual users.

Bringing People Back to Hong Kong an ‘Uphill Task’: FSDC Chair

18/07/2022

FSDC chairman Laurence Li said Hong Kong we must not allow any “slippage” in its role as an international financial centre, and as a connector to the mainland.

Fintech / Regtech

BOJ, FSA Advance Work to Coordinate Supervisory Functions

17/07/2022

The FSA and BOJ have started sharing information reported by FIs using common templates and are establishing a new data platform to collect granular data from the industry.

Crypto / Digital Assets

BOJ to ‘Carefully’ Examine CBDC Impact on Bank Deposits

14/07/2022

A shift away from bank deposits may not occur if banks offer “smooth exchange of CBDC and deposits” and “attractive services related to CBDC”.

Enforcement

ACCC Issues First Penalty for CDR Breach Against BOQ

14/07/2022

This is the first infringement notice the ACCC has issued for an alleged breach of the CDR rules as BOQ pays penalty.

Fintech / Regtech

FSC Korea Approves Rule Change to Promote Data Convergence

11/07/2022

Firms that do not hold their own data will be allowed to use pseudonymised data from other businesses in their analysis.

ESG / Sustainability

NGFS Issues Final Report on Bridging Climate-related Data Gaps

08/07/2022

The largest gaps are for biophysical impact, emissions and geospatial data types, which affect use cases such as investment and lending decisions and exposure quantification.

Securities / Derivatives

FIA Highlights Challenges of HKEX Position Limits Proposals

07/07/2022

The introduction of two more tiers in the position limit regime for single stock options and futures would bring additional operational challenges for exchange participants.