Market Infrastructure

Market Infrastructure

Malaysia Issues Draft Licensing Framework for Digital Banks

By Manesh Samtani | 28/12/2019

Foreign financial institutions will be allowed to hold a majority stake, but preference will be given to applications where Malaysian nationals own the controlling equity interest.

Market Infrastructure

ESMA Extends UK CCP Recognition to Guard Against No-Deal Brexit

By Editors | 27/12/2019

The temporary recognition decisions for LCH, ICE Clear Europe and LME Clear have been extended to 30 March 2021, in case of a no-deal Brexit scenario.

Market Infrastructure

RBI Allows IFSC Banks to Open Foreign Currency Current Accounts

By Editors | 26/12/2019

IFSC Banking Units will be allowed to open foreign currency current accounts for entities operating in Gift City, including non-resident institutional investors and corporate borrowers.

Market Infrastructure

Taiwan FSC Outlines Bank Examination Priorities for 2020

By Editors | 26/12/2019

The FSC’s Financial Examination Bureau will reportedly focus on compliance with rules on AML, corporate governance, information security, consumer protection and personal data protection.

Market Infrastructure

ASIC, APRA Issue Updates on Governance, Accountability

By Editors | 25/12/2019

The updates are a response to the Royal Commission, which called on both regulators to reform their internal accountability frameworks to reflect requirements prescribed by BEAR.

Market Infrastructure

PayPal Obtains Online Payments Licence in China

By Editors | 24/12/2019

PayPal’s acquisition of a majority stake in Gopay gives it access to licences that allow it to offer online, mobile and cross-border renminbi payments.

Market Infrastructure

Macau Banks Encouraged to Set Up on Mainland: CBIRC

By Editors | 24/12/2019

China has unveiled a raft of policies to increase financial cooperation with Macau, largely seen as a reward for the city’s adherence to ‘One Country, Two Systems’.

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.