Market Infrastructure

Market Infrastructure

New Zealand Implements Asia Region Funds Passport

By Editors | 28/07/2019

New Zealand joins Australia, Japan and Thailand in having implemented the legal and regulatory requirements to enable the Asia Region Funds Passport.

Fintech / Regtech

India Enables Consent-Based Financial Data Sharing

By Manesh Samtani | 26/07/2019

Four years of collaboration between India’s major financial regulators has resulted in a new platform that enables financial services providers to share data with other institutions based explicitly on user consent.

Market Infrastructure

CCP12 Publishes Best Practices to Address Outsourcing Risk

By Editors | 26/07/2019

As CCPs move to more complex supply chain models, proper oversight mechanisms and controls need to be in place to manage the risks introduced by third-parties.

Market Infrastructure

NSE Clearing Retains Dominance as Interoperability Kicks In – Report

By Editors | 25/07/2019

Trading members and custodians have largely selected NSE Clearing over ICCL to settle trades in the equity cash segment following the introduction of clearing corporation interoperability.

Market Infrastructure

MAS Consults on Subsidiary Legislation for Winding Up VCCs

By Editors | 25/07/2019

The MAS is seeking feedback on proposed subsidiary legislation relating to the insolvency and winding up of a VCC and its sub-funds.

Fintech / Regtech

First Non-Financial Firm Approved to Raise Stake in Korean Digital Bank

By Editors | 25/07/2019

According to the FSC, messenger app operator Kakao has met the qualification criteria for owning a 34% stake in Kakao Bank, one of Korea’s two internet-only banks.

Enforcement

Equifax to Pay Up to $700m to US Authorities for 2017 Data Breach

By Editors | 24/07/2019

The penalty amounts allocated to the consumer compensation fund represent less than 3 US dollars for each of the estimated 147 million consumers who had their data stolen in 2017.

Big Picture

New Zealand FMA Sets Out Key Focus Areas, Strategic Objectives

By Editors | 24/07/2019

The FMA is prioritising governance, culture, systems and controls, as well as mechanisms to deter misconduct and facilitate informed decision-making by investors and customers.

Market Infrastructure

APRA Proposes New Prudential Standard on Executive Pay

By Editors | 24/07/2019

Key proposals include limits on the financial performance component of variable compensation, a 7-year deferral period for executive bonuses, and claw back for up to 4 years.