Cloud & Infrastructure

New Zealand FMA to Deepen Fintech, ESG Expertise

05/11/2020

The appointments reflect the FMA’s support for innovation in financial services and a commitment to supporting New Zealand’s transition to a greener financial system.

Market Risk

HKMC Extends Fixed-Rate Mortgage Pilot Scheme for One Year

04/11/2020

The scheme provides an alternative financing option for homebuyers to mitigate risks arising from interest rate volatility.

Conduct, Culture & Accountability

ASIC Secures A$10m in Refunds for Customers from Allianz

04/11/2020

Up to 31,000 consumers have been remediated for misconduct relating to the sale of travel insurance through Allianz’s own website and those of its partners.

Climate Risk

Korea Exchange Joins and Declares Support for TCFD

03/11/2020

KRX joins the Ministry of Environment, Shinhan Financial Group, KG Financial Group, Posco and SK Innovation in declaring its support for the TCFD.

Trading & Investment

PBOC to Scrap Market Maker Approval Process in Interbank Market

01/11/2020

The PBOC proposes to allow banks and securities firms to only sign an agreement with trading platforms to conduct market making business.

Structural Regulation

IFSCA Approves Bullion Trading Regulations for Gift City

01/11/2020

The regulations provide guidelines on to functions, general obligations, ownership and governance structure for a bullion exchange and clearing corporation in Gift City.

Conduct, Culture & Accountability

FSC Korea Consults on Enforcement of New Consumer Protection Law

29/10/2020

The key enforcement proposals relate to consumer rights, the types of firms under scope, and the reach of the new legislation, and the penalties that can be imposed.

Credit Risk

BSP to Stimulate SME Lending with New Credit Risk Database

28/10/2020

The database will use financial statements and loan default information held by financial institutions to generate credit scores and better estimate default risk.

CBDCs

BIS, Swiss National Bank to Issue CBDC Proof of Concept by Year-End

27/10/2020

CBDC research provides an “essential opportunity” to pool knowledge and resources and help enhance cross-border payments, says Benoît Coeuré, head of the BIS Innovation Hub.