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Market Infrastructure
Amundi-BOC Wealth Management JV Wins CBIRC Approval
By Editors | 23/12/2019
The joint venture is expected to launch during the second half of 2020. Amundi will own a 55% stake while BOC Wealth Management will own the other 45%.
Market Infrastructure
Governance, Accountability in Focus in Phase Two Review of RBNZ Act
By Editors | 23/12/2019
The government will progress a number of key ‘in-principle’ decisions of the review by enacting two separate Acts to replace the Reserve Bank of New Zealand Act 1989.
Market Infrastructure
ASIC Reports High Levels of FX Global Code in Wholesale Markets
By Editors | 23/12/2019
In a new report, ASIC highlights its observations of good and poor practices used by participants operating in the wholesale foreign exchange market.
Market Infrastructure
ASIC Issues Draft Guidance on Product Design Obligations
By Editors | 21/12/2019
From April 2021, design and distribution obligations will require issuers to focus on meeting consumer needs when designing, marketing and distributing financial products.
Market Infrastructure
Indonesia Integrates Nine Bank Reports into Single Mechanism
By Editors | 20/12/2019
The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.
Market Infrastructure
China Raises Daily Remittance Limit for Macau Residents
By Editors | 20/12/2019
The move comes as President Xi Jinping visits Macau this week, amid expectations that further preferential policies will be announced to promote Macau as a financial centre.
Market Infrastructure
Leveraged Loan, CLO Markets Increasingly Vulnerable to Shock: FSB
By Editors | 20/12/2019
The growth in leverage loan and CLO markets has resulted in increased leverage in the financial system, weaker creditor protections, and increased complexity in these markets, the FSB warns.
Fintech / Regtech
South Korea Formally Launches Open Banking Service
By Editors | 20/12/2019
Open banking will serve as a catalyst for various innovations and bring tectonic shifts in the financial industry, FSC chairman Eun Sung-soo said at the launch event.
AML / KYC
India Shows How Policy Can Solve Financial Inclusion: BIS Paper
By Editors | 19/12/2019
The paper highlights India’s Aadhaar programme, which promotes financial inclusion, offers more robust AML/CFT checks, and has led to the creation of several innovative and interoperable digital platforms.
Market Infrastructure
JP Morgan Secures Business Licence for China Joint Venture
By Editors | 19/12/2019
The CSRC gave JP Morgan approval to set up majority-owned securities joint venture in China since March, but it has not been granted a licence to operate until now.
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