MARKET INFRASTRUCTURE

Capital / Liquidity

FSB Chair Issues Letter to G20 Ahead of Osaka Summit

By Editors | 27/06/2019

The letter reports on the FSB’s work to monitor financial stability risks, reform implementation progress, and market fragmentation issues.

AML / KYC

Facebook’s Libra – An Enabler of Money Laundering?

By Charles Delingpole | 26/06/2019

Regulators need to get up to speed with Facebook’s stablecoin technology so they can assess how it mitigates money laundering risks and where its weaknesses lie, says ComplyAdvantage CEO Charles Delingpole.

Capital / Liquidity

China Shadow Banking Assets Reach Two Year Low

By Editors | 26/06/2019

The crackdown on shadow banking activities will continue to moderate this year as China prioritises economic growth and smaller banks continue to face funding pressures, Moody’s said.

Fintech / Regtech

APRA Releases Finalised Guidance on Information Security

By Editors | 26/06/2019

The updated guidance is intended to help regulated entities comply with APRA’s new cross-industry prudential standard on information security, which comes into force on 1 July.

Market Infrastructure

APRA Extends Change of Ownership Powers to Super Sector

By Editors | 26/06/2019

From 5 July, any party seeking to acquire more than a 15% stake in a superannuation licensee will be subject to must apply to APRA first for approval.

Capital / Liquidity

Japan Opposes LCR for US Branches of Foreign Banks

By Manesh Samtani | 26/06/2019

The BOJ, FSA and JBA say standardised liquidity requirements for US branches of foreign banking organisations will promote market fragmentation and create global risks.

Market Infrastructure

New Zealand Banks Commit to Ending Sales-Linked Incentives

By Editors | 25/06/2019

FMA chief executive Rob Everett and RBNZ governor Adrian Orr have confirmed that all banks have committed to removing sales incentives for frontline staff and their managers.

Fintech / Regtech

Regulatory Coordination Needed to Mitigate BigTech Risks: BIS

By Editors | 25/06/2019

An element of risk is BigTechs’ access to data from existing social media, search engines and ecommerce platforms, which raises competition and data privacy issues.

Market Infrastructure

Bangladesh: Three Private Banks Hit by Cyber Attacks

By Editors | 25/06/2019

Hackers stole $3m from Dutch-Bangla Bank using cloned credit cards and cash machines in Cyprus, Russia and Ukraine.