MARKET INFRASTRUCTURE

Market Infrastructure

China Issues Draft Law Aimed at Improving Audit Practices

By Manesh Samtani | 16/06/2021

The law prohibits the entities being audited from refusing to provide information, delaying such provision, and submitting false information.

Market Infrastructure

Banking on API Management to Succeed in the Digital World

By David Chan | 16/06/2021

AdNovum’s David Chan discusses the need to safeguard APIs as financial institutions increasingly seek to digitalise their services.

Market Infrastructure

OCBC Obtains Approval to Convert LIBOR Bonds to SONIA

By Ranamita Chakraborty | 16/06/2021

OCBC has become the first Singapore bank to obtain approval from bondholders to replace GBP LIBOR with SONIA as the interest rate benchmark.

Market Infrastructure

Hong Kong Needs New Cybersecurity Legislation: FSDC

By Manesh Samtani | 16/06/2021

The FSDC recommends the development of legislation to provide legal certainty and protection, clarity on cross-border data transfers, and a framework for accountability.

Market Infrastructure

China Passes Law Establishing Hainan as Free Trade Port

By Sanday Chongo Kabange | 15/06/2021

The law states that Hainan will implement a “minimalist” investment approval system and create an “open, transparent, and predictable investment environment”.

Market Infrastructure

Japan FSA Considers Sanctioning Mizuho for System Glitches

By Ranamita Chakraborty | 15/06/2021

A new report from a third-party committee has attributed the bank’s system failures to poor corporate culture within Mizuho Financial Group.

Market Infrastructure

China Passes Data Security Law, Effective in September

By Manesh Samtani | 15/06/2021

Companies that provide data to foreign judicial or law enforcement agencies without approval can have their business licences revoked and be penalised up to CNY 5 million.

Market Infrastructure

Credit Risk, Shadow Banking Present Ongoing Concerns: CBIRC

By Editors | 15/06/2021

CBIRC chairman Guo Shuqing has highlighted credit risk, shadow banking, illegal fundraising, and derivatives trading as key sources of financial system risk.

Market Infrastructure

Shenzhen to Further Open to Foreign Financial Institutions

By Editors | 14/06/2021

Shenzhen’s five-year plan calls for the establishment of foreign-controlled securities firms, investment funds, futures companies and insurers in the city.