MARKET INFRASTRUCTURE

Fintech / Regtech

IOSCO Consults on Updated Set of Outsourcing Principles

By Editors | 28/05/2020

The principles include selection due diligence, information security, confidentiality issues, outsourcing risk concentration, and access to data, among others.

Market Infrastructure

China Approves Plan to Impose National Security Law in Hong Kong

By Manesh Samtani | 28/05/2020

The move could impact Hong Kong’s special trade status under US law, lead to sanctions against officials, and trigger a downgrade of the city’s credit rating.

Fintech / Regtech

FSC Korea to ‘Reshape’ Regulations, Infrastructures to Boost Innovation

By Editors | 28/05/2020

In a welcome speech for Online Korea Fintech Week, FSC chairman Eun Sung-soo said the regulator will pursue innovation based on three main pillars.

Market Infrastructure

US State Dept Declares Hong Kong No Longer Autonomous

By Manesh Samtani | 27/05/2020

The move puts at risk the special status under US law Hong Kong has enjoyed since 1992, jeopardising billions of dollars worth of trade and investment.

Market Infrastructure

NGFS Publishes Climate Risk Best Practices of Supervisors, Banks

By Editors | 27/05/2020

Most banks have undertaken an operational commitment towards greening their balance sheets, consider their actions to be part of their corporate social responsibility or risk mitigation measures.

Big Picture

Higher Skin-in-the-game Linked to Lower CCP Model Risk

By Editors | 27/05/2020

A new BIS paper finds that a higher amount of CCP skin-in-the-game is associated with more careful risk modelling and less frequent margin breaches.

Market Infrastructure

China to Revise Central Bank Law This Year

By Editors | 27/05/2020

The revisions will likely expand the PBOC’s statutory responsibilities to include macro-prudential management, financial risk oversight, financial infrastructure and financial holding companies.

Capital / Liquidity

PBOC Governor Pledges Additional Measures to Support SMEs, Banks

By Editors | 26/05/2020

The PBOC plans to further extend SME loan repayment deferrals to 31 March 2021, further drive down real interest rates, and bolster support for banks.

AML / KYC

India to Tighten KYC Rules for Hong Kong, China FPIs

By Manesh Samtani | 26/05/2020

Alongside stricter KYC procedures during FPI registration, India may set a 10% beneficial ownership cap on foreign investment from China including Hong Kong.