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Market Infrastructure
SWIFT Forms Majority-owned Joint Venture with PBOC
By Editors | 04/02/2021
The venture will be able to obtain necessary licences for network management activities, for compliance with local regulations.
Enforcement
CBIRC Fines Agricultural Bank of China for Poor Data Security
By Editors | 04/02/2021
The CBIRC said the bank did not properly protect its internal and wireless internet networks there was a risk of data leakage.
Capital / Liquidity
UPDATED – Chinese Regulators Agree on Ant Group Restructuring Plan
By Editors | 03/02/2021
Under the plan, Ant Group will fold all of its businesses into a financial holding company that will be subject to PBOC oversight and capital requirements.
Market Infrastructure
Is it Time to Regulate ESG Scores and Ratings?
By ESG Investor | 03/02/2021
End-users are seeking more transparency around cost and methodology to improve comparability across third-party vendors.
ESG / Sustainability
IFRS Foundation Announces Next Steps for Sustainability Standards
By ESG Investor | 03/02/2021
The Sustainability Standards Board – widely supported across the investment industry – will be established in time for COP26 in November.
Market Infrastructure
Hong Kong MPFA Awards eMPF Contract to PCCW Solutions
By Ranamita Chakraborty | 02/02/2021
PCCW Solutions will build, implement, operate and maintain Hong Kong’s new eMPF Platform, with Singapore’s iFAST as its prime subcontractor.
Market Infrastructure
MAS Outlines 2021 Plans to Continue Transitioning to SORA
By Manesh Samtani | 02/02/2021
SOR will now end 18 months later to reflect the IBA’s plans, but the transition to SORA in cash products and derivatives markets will continue at pace.
Big Picture
Industry Taskforce Publishes Blueprint for Creating Carbon Market
By Editors | 02/02/2021
The blueprint comprises 20 tangible actions to deliver a large-scale, voluntary carbon market and a roadmap for implementation.
Market Infrastructure
CBIRC Permits Allianz to Set Up Insurance Asset Management Business
By Editors | 02/02/2021
The business, to be incorporated in Beijing, will be the first wholly foreign-owned insurance asset management firm in China.
Capital / Liquidity
India Announces Support for Banks in Budget for New Fiscal Year
By Editors | 02/02/2021
The budget includes the establishment of a ‘bad bank’ to take over banks’ bad assets and a plan to inject INR 200 billion into state lenders.
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