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Market Infrastructure
BCBS Proposes Principles to Promote Operational Resilience at Banks
By Manesh Samtani | 06/08/2020
The principles aim to increase bank resilience to operational risk shocks, such as those arising from pandemics, cyber incidents, technology failures and natural disasters.
Market Infrastructure
Westpac to ‘Proactively’ Switch Merchants to Least Cost Routing
By Editors | 06/08/2020
The RBA has signalled it was considering taking regulatory action to force banks to move faster in moving merchants from Mastercard and Visa to lower cost networks.
Securities / Derivatives
ASX Concludes Consultation on CHESS Replacement Timeline
By Editors | 05/08/2020
A four-week consultation on a new timeline for the CHESS replacement project has found that 91% of users can be ready by April 2022.
Market Infrastructure
MAS Announces New Initiatives to Support SORA Adoption
By Editors | 05/08/2020
The initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark’s integrity and enhance market confidence in SORA.
Market Infrastructure
APAC Firms Lag in IBOR Transition Preparation – Report
By Manesh Samtani | 05/08/2020
Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.
Market Infrastructure
HKMA Defers Trade Facility Repayments by a Further 90 Days
By Editors | 05/08/2020
Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.
Big Picture
Regulatory Fragmentation in Markets Undermines Economic Recovery
By Manesh Samtani | 05/08/2020
Fragmentation introduces distortions and inefficiencies, undermining financing when it is needed to facilitate the recovery from Covid-19, ASIFMA says in a new report.
Market Infrastructure
Japan Amends Rules to Lure Hong Kong Fund Managers
By Sanday Chongo Kabange | 05/08/2020
A Cabinet level amendment will allow overseas investment funds and securities operators to temporarily operate from Japan.
Market Infrastructure
CSRC Consults on Enhanced Rules for Fund Managers
By Lucy Zhang | 04/08/2020
The changes are aimed at promoting the high-quality development of the public fund industry so that it can better serve the real economy.
AML / KYC
Interpol Reveals ‘Alarming Rate’ of Cyberattacks During Covid-19
By Editors | 04/08/2020
Interpol warns that a further increase in cybercrime is highly likely in the near future, citing vulnerabilities related to working from home.
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