Market Infrastructure

Fintech / Regtech

PBOC Pushes for Antitrust Probe into Alipay, WeChat Pay

By Editors | 03/08/2020

The State Council’s antitrust committee has reportedly been collecting information on the two payments giants for over a month but has not yet decided whether to launch a probe.

ESG / Sustainability

Culture Audits: Removing the Blindfold

By Stephen Scott | 03/08/2020

To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.

Market Infrastructure

SC Orders Bursa Malaysia to Conduct Full Systems Review

By Sanday Chongo Kabange | 02/08/2020

The Securities Commission has ordered Bursa Malaysia to conduct a thorough systems review, after a glitch forced a trading halt in mid-July.

Securities / Derivatives

Trade Bodies Jointly Commit to Tackling Market Inefficiencies

By Manesh Samtani | 30/07/2020

The inefficiencies result from a prevalence of customised, paper-based legal documentation, a lack of data standards, and inconsistent reporting requirements.

Big Picture

Third Global Financial Crisis May Be Imminent: ex-HKMA Chief

By Sanday Chongo Kabange | 30/07/2020

Former HKMA head Joseph Yam worries that the world may slip into a third financial crisis due to insufficient liquidity and dwindling spending caused Covid-19.

Market Infrastructure

Reserve Bank of New Zealand Bill Introduced in Parliament

By Editors | 30/07/2020

The Bill focuses on reforming RBNZ’s overall institutional, governance, accountability, and funding arrangements, effectively updating 30-year-old legislation.

AML / KYC

China Should Reduce SWIFT Use in Case of US Sanctions – Report

By Editors | 30/07/2020

China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.

Market Infrastructure

Singapore Industry Consultation Proposes to Discontinue SIBOR

By Manesh Samtani | 29/07/2020

Proposed reforms were found to display “noticeable differences in volatility and levels compared to SIBOR”, which will present challenges to industry adoption.

Market Infrastructure

ESMA Set to Defer CSDR’s Settlement Discipline Regime

By Editors | 29/07/2020

The European Commission asked ESMA to consider a one-year deferral in light of operational pressures on firms and other market developments amid the Covid-19 pandemic.