MARKET INFRASTRUCTURE

Market Infrastructure

RBNZ Endorses Official Cash Rate as Fallback Benchmark

By Editors | 31/01/2020

New Zealand will operate a dual interest rate benchmark system, retaining the Bank Bill Benchmark Rate and using the OCR as its fallback.

Market Infrastructure

ISDA Welcomes Libor Pre-cessation Clarity from FCA, IBA

By Editors | 29/01/2020

The FCA has clarified that any period of non-representative LIBOR based on reduced panel bank submissions could last for only a period of months, not years.

AML / KYC

Singapore’s Payment Services Act Comes Into Force

By Manesh Samtani | 28/01/2020

The PS Act gives MAS formal supervisory powers over technology, cybersecurity and AML/CFT controls at payment services firms, including cryptocurrency and e-wallet companies.

Market Infrastructure

FSS Korea to Reorganise Consumer Protection Department

By Editors | 24/01/2020

The FSS will reorganise its consumer protection department to boost supervision of high-risk financial products, and establish suptech and regtech teams.

Fintech / Regtech

Australia Considers Opening ‘Write’ Access Under Open Banking

By Editors | 24/01/2020

The government will consider expanding the consumer data right to allow ‘write’ access by entities other than banks, similar to how the EU’s PSD2 operates.

Market Infrastructure

Grab, Razer Considering Malaysia Digital Bank Licences – Report

By Editors | 24/01/2020

CIMB, Hong Leong Bank, Maybank, Grab, Razer, AirAsia, Axiata are reportedly considering submitting bids for Malaysian digital bank licences.

Market Infrastructure

Australia Proposes Broad Extension of Financial Accountability Regime

By Manesh Samtani | 24/01/2020

FAR will replace BEAR and apply to insurers, superannuation entities, financial holding companies and eventually ASIC licensees, with higher penalties for breaches.

ESG / Sustainability

Refinitiv Launches ESG Data Initiative at WEF, Davos

By Editors | 23/01/2020

The Alliance aims to identify and consolidate the fundamental ESG and alternative data firms require to make sustainable investment decisions and positively contribute to the UN SDGs.

Market Infrastructure

Singapore, Brunei Central Banks to Expand Cooperation

By Editors | 23/01/2020

MAS and AMBD have committed to new areas of cooperation, including financial sector development, cross-border supervision, crisis management and AML/CFT.