Market Infrastructure

Market Infrastructure

China to Establish Financial Stability Fund to Defuse Risk

By Editors | 08/03/2022

Premier Li Keqiang said at the NPC’s annual meeting that the government will also adopt measures to keep housing prices stable and strengthen financial regulation.

Market Infrastructure

Russian Banks Moving to China UnionPay for Card Issuance

By Manesh Samtani | 08/03/2022

Visa, Mastercard and American Express have all announced decisions to suspend their operations in Russia due to its invasion of Ukraine.

Market Infrastructure

BSP Approves Reporting Rules for Payment System Operators

By Mark Johnston | 07/03/2022

Compliance requires effective a management information system that enables independent validation and periodic independent review of reporting processes and procedures.

AML / KYC

Russia Lays Out Three Exit Options for Foreign Firms

By Manesh Samtani | 07/03/2022

One option is for foreign shareholders to transfer their shares to be managed by Russian partners until they return to the market at a later date.

Securities / Derivatives

BSEC Plans to Transition Stock Market to T+2 Settlement

By Editors | 03/03/2022

BSEC is working on the technical aspects of the change, which will likely be implemented in phases, starting with blue-chip stocks.

ESG / Sustainability

APRA to Survey Regulated Entities on Climate Risk Management

By Sanday Chongo Kabange | 03/03/2022

The survey will assess the alignment between current approaches used by regulated entities and the expectations set out in CPG 229 and the TCFD recommendations.

Market Infrastructure

ESMA Consults on Climate Risk Stress Testing Approach for CCPs

By Sanday Chongo Kabange | 02/03/2022

ESMA has identified four elements of climate risk that may adversely impact CCPs – physical risk, rapid transition risk, business risk, and collateral replacement risk.

AML / KYC

Russia SWIFT Ban Still Being Finalised; China Urges Dialogue

By Manesh Samtani | 02/03/2022

Seven Russian banks will likely be cut off from SWIFT; Japan will freeze Russia’s yen reserves; Korea will suspend transactions with seven Russian banks and their subsidiaries.

ESG / Sustainability

UK, Singapore Bolster Cooperation on Data Flows, Financial Services

By Editors | 01/03/2022

The UKSDEA promotes free flows of data between the UK and Singapore including in financial services. Both countries will work towards recognising each other’s digital identity systems.