MARKET INFRASTRUCTURE

Big Picture

Conduct Risk Management Shifts to ‘Predict and Prevent’ Approach

By Manesh Samtani | 18/05/2021

In its annual Compendium on culture and conduct risk supervision, Starling highlights a shift from ‘detect and correct’ to ‘predict and prevent’.

Market Infrastructure

Is Asia Ready for the End of LIBOR?

By Li Renn Tsai | 17/05/2021

Li Renn Tsai compares progress in Asia’s main trading hubs, warning of a logjam of transition-related operational work that will pile up towards year-end.

Market Infrastructure

Credit Sensitive Alternatives to RFRs Have Limited Durability: Bailey

By Manesh Samtani | 17/05/2021

Non-financial borrowers may not want their cost of borrowing to be driven by thin liquidity in CP and CD markets, says BOE governor Andrew Bailey.

Market Infrastructure

MAS to Expand Scope of Mandatory Reference Check Regime

By Manesh Samtani | 16/05/2021

MAS proposes to expand the scope of FIs and employees subject to the mandatory reference checking regime. FIs will have to maintain records for all employees.

ESG / Sustainability

COP Presidency Calls for Ambitious Climate Commitments

By Editors | 16/05/2021

Private financial institutions are encouraged to join a net zero alliance, publish transition plans, phase out of coal, and commit to nature-positive finance.

Market Infrastructure

UK Exchange Derivatives to Switch to SONIA on 17 June

By Editors | 14/05/2021

The FCA and BOE are encouraging market participants to prepare for and implement changes to standard trading conventions on 17 June.

Fintech / Regtech

HKMA Sets Out Next Steps to Implement Open API Framework

By Manesh Samtani | 13/05/2021

Phase 3 and 4 API functions will be implemented progressively by 28 participating banks starting from December 2021, the HKMA says.

Market Infrastructure

Working Group Publishes Recommendations on EURIBOR Fallbacks

By Editors | 13/05/2021

Although EURIBOR is not scheduled to be discontinued, the recommendations will provide legal certainty and help users comply with BMR fallback obligations.

Market Infrastructure

Australia’s Financial Sector Welcomes 2021‑22 Budget Initiatives

By Manesh Samtani | 12/05/2021

The measures include an FMI reform package, relief for foreign financial service firms, changes to the superannuation system, and a new commencement date for the CCIV regime.