Market Infrastructure

Market Infrastructure

FSS Korea to Reorganise Consumer Protection Department

By Editors | 24/01/2020

The FSS will reorganise its consumer protection department to boost supervision of high-risk financial products, and establish suptech and regtech teams.

Fintech / Regtech

Australia Considers Opening ‘Write’ Access Under Open Banking

By Editors | 24/01/2020

The government will consider expanding the consumer data right to allow ‘write’ access by entities other than banks, similar to how the EU’s PSD2 operates.

Market Infrastructure

Grab, Razer Considering Malaysia Digital Bank Licences – Report

By Editors | 24/01/2020

CIMB, Hong Leong Bank, Maybank, Grab, Razer, AirAsia, Axiata are reportedly considering submitting bids for Malaysian digital bank licences.

Market Infrastructure

Australia Proposes Broad Extension of Financial Accountability Regime

By Manesh Samtani | 24/01/2020

FAR will replace BEAR and apply to insurers, superannuation entities, financial holding companies and eventually ASIC licensees, with higher penalties for breaches.

ESG / Sustainability

Refinitiv Launches ESG Data Initiative at WEF, Davos

By Editors | 23/01/2020

The Alliance aims to identify and consolidate the fundamental ESG and alternative data firms require to make sustainable investment decisions and positively contribute to the UN SDGs.

Market Infrastructure

Singapore, Brunei Central Banks to Expand Cooperation

By Editors | 23/01/2020

MAS and AMBD have committed to new areas of cooperation, including financial sector development, cross-border supervision, crisis management and AML/CFT.

Market Infrastructure

HKMA Consults on Contractual Stay Provisions in Financial Contracts

By Editors | 23/01/2020

FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.

Market Infrastructure

S. Korea to Implement Asia Region Funds Passport on 27 May

By Editors | 22/01/2020

To register passport funds that can be offered in overseas markets, fund managers in Korea must have at least $500mn under management and meet a $1mn minimum capital requirement.

ESG / Sustainability

BIS Calls on Central Banks to Coordinate Action on Climate Change

By Manesh Samtani | 21/01/2020

Without coordinated action, a new global financial crisis triggered by climate change would render central banks and financial supervisors powerless.