Market Infrastructure

Market Infrastructure

ASIC Approves ABA’s Updated Banking Code of Practice

By Editors | 18/12/2019

ASIC has given its final approval for the new version of the Banking Code of Practice, which implements recommendations from the Royal Commission.

Market Infrastructure

FSB Report Highlights Risks of Continued LIBOR Reliance

By Editors | 18/12/2019

In its latest progress report on benchmark reform implementation, the FSB calls for “significant and sustained efforts” to transition away from LIBOR by end-2021.

Market Infrastructure

FSB Publishes Work Programme for 2020

By Editors | 18/12/2019

The work programme for 2020 reflects the evolving nature of the global financial system and associated risks to financial stability, the FSB says.

Market Infrastructure

Taiwan to Boost Competitiveness as Financial Centre

By Editors | 18/12/2019

Taiwan will relax its rules on financial products, expanding its OBU business, and boost the resilience and innovativeness of Taiwanese financial institutions.

Market Infrastructure

India Passes Bill to Establish Unified Regulator for IFSCs

By Editors | 17/12/2019

In addition to regulating Gift City, the new authority will be responsible for any other international financial services centre set up in India in the future.

Big Picture

Asian Benchmark Administrators Face ‘Perfect Storm’ in 2021

By Manesh Samtani | 17/12/2019

The BMR transition period is now scheduled to end alongside LIBOR’s discontinuation, creating a “perfect storm” of regulatory change for benchmark administrators and users at end-2021.

Fintech / Regtech

FSC Korea Grants Preliminary Approval to Third Internet-only Bank

By Editors | 17/12/2019

Led by mobile money transfer app operator Viva Republica, the Toss Bank consortium expects to commence operations as an internet-only bank during the first six months of 2021.

Market Infrastructure

APRA Delays Implementation of Product Responsibility under BEAR

By Editors | 16/12/2019

APRA will delay finalising its consultation on the product responsibilities under BEAR to align with the government’s proposed extension of the accountability regime.

Securities / Derivatives

IOSCO Unveils Framework for Monitoring Leverage-related Risks in Funds

By Editors | 16/12/2019

IOSCO has developed a framework for monitoring leverage across all types of investment funds globally, to help regulators assess leverage-related risks that can undermine financial stability.