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Enforcement
NPP Australia Responds to RBA on Platform Access, Functionality
By Editors | 01/08/2019
Effective immediately, NPP Australia has established a mandatory compliance framework allowing it to designate core capability requirements and enforce compliance through non-compliance charges.
Market Infrastructure
SEBI Grants QCCP Status to MCX Clearing Corporation
By Editors | 01/08/2019
SEBI has granted qualifying central counterparty status to Multi Commodity Exchange Clearing Corporation.
Market Infrastructure
HKMA Reports on Open API Implementation Progress
By Editors | 01/08/2019
Phase I Open APIs provide information on banking products and services. Phase II will allow banks to process applications for such products and services by end-October.
Market Infrastructure
CSRC Issues New Rules for China Offices of Foreign Exchanges
By Editors | 31/07/2019
Representative offices of foreign exchanges have 12 months to register with the CSRC, and are prohibited from engaging in any profit-making activities in China.
Securities / Derivatives
JPX, TOCOM Finalise Merger Agreement to Create Integrated Bourse
By Editors | 31/07/2019
TOCOM precious metals, agricultural and rubber products will be transferred to Osaka Exchange, a JPX subsidiary, creating an all-in-one bourse by July 2020.
Fintech / Regtech
Taiwan Issues First Three Digital Bank Licences
By Editors | 31/07/2019
The three digital only bank licences went to conglomerates led by Japan’s LINE Group; Taiwan’s Chunghwa Telecom; and Japanese e-commerce firm Rakuten Inc.
Fintech / Regtech
RBA Policy Shift Opens Australian Payments Market to Tech Firms
By Manesh Samtani | 31/07/2019
An RBA policy update will make it easier for fintechs – and so-called BigTechs – to enter Australia’s payments system without having to obtain a banking licence.
Market Infrastructure
ISDA Unveils Preliminary Results of 2nd IBOR Fallbacks Consultation
By Manesh Samtani | 31/07/2019
For USD LIBOR, HIBOR and CDOR fallbacks, respondents prefer ‘compounded setting in arrears’ for the adjusted RFR and the ‘historical mean/median approach’ for spread adjustments.
Market Infrastructure
Singapore, Australia Benchmarks Gain EU Equivalence
By Editors | 30/07/2019
The European Commission has adopted equivalence decisions for Australian and Singapore financial benchmarks, but repealed existing equivalence for credit rating agencies.
Capital / Liquidity
ICBC, Cinda, Great Wall to Restructure Troubled Bank of Jinzhou
By Editors | 29/07/2019
An ICBC unit will invest up to 3 billion yuan for a more than 10% stake in Bank of Jinzhou, whose auditor quit in May citing loan inconsistencies.
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