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Big Picture
Virtual Banks Could Shake Up Funds Industry – Report
By Editors | 03/07/2020
Successful virtual banks are likely to branch out into wealth management services, robo-advisory and fund distribution, says a new Calastone paper.
Market Infrastructure
Taiwan to Tighten Rules on Chinese Investment – Report
By Editors | 02/07/2020
New rules will empower Taiwan’s government to investigate whether funds from Hong Kong or other countries are actually from Chinese investors.
Market Infrastructure
BSP Approves New Payment System Oversight Framework
By Editors | 02/07/2020
The BSP will be empowered to designate a payment system as systemically important, and replace its operator for a failure to satisfy regulatory obligations.
Capital / Liquidity
S. Korea Advances OTC Derivatives Reforms
By Editors | 02/07/2020
Cabinet-approved legislative revisions will introduce an OTC derivatives reporting requirement, a licensing system for trade repositories, and penalties for circumventing margin rules.
Fintech / Regtech
Australia Launches Open Banking Data Sharing Regime
By Editors | 01/07/2020
The big four banks have opened up their deposit, transaction account, credit and debit card data for customers to share with other major banks or accredited fintech providers.
Market Infrastructure
Philippine SEC Seeks Independent Board at Stock Exchange
By Editors | 01/07/2020
The Philippine Stock Exchange currently has three independent directors on its 15-seat board. Under the proposed rules, a majority of the directors will have to be independent.
Market Infrastructure
FSB Issues Statement on Global Benchmark Transition
By Editors | 01/07/2020
The FSB maintains its view that financial and non-financial sector firms across all jurisdictions should continue efforts to remove remaining LIBOR dependencies by end-2021.
ESG / Sustainability
HKMA Sets Out Principles for Supervisory Approach on Climate
By Manesh Samtani | 01/07/2020
The HKMA expects the results of the industry greenness self-assessments in August 2020, which will inform its supervisory expectations ahead of a consultation next year.
Market Infrastructure
The New Normal: Conduct Risk & Personal Accountability
By Stephen Scott | 01/07/2020
Increasingly, leaders along all Three Lines of Defence are being held personally accountable for misconduct that takes place on their watch, says Stephen Scott at Starling.
Market Infrastructure
ASX Proposes April 2022 Go-Live of CHESS Replacement
By Editors | 30/06/2020
The revised timetable accounts for Covid-19 related disruptions, accommodates functionality changes, and provides more time to ensure user readiness.
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