Market Infrastructure

Market Infrastructure

China Moves to Cut Off P2P Lenders’ Payment Channels

By Editors | 02/09/2019

Cutting off payment and settlement services will restrict the funds flowing in and out of P2P lenders, part of a regulatory crackdown on the sector.

Market Infrastructure

ASX to Streamline Transfers to CHESS Subregister

By Editors | 02/09/2019

ASX will remove a requirement for settlement-only participants to receive and provide a registrable transfer document for transfers, but will require validation checks.

Market Infrastructure

Singapore Takes Steps to Transition Away from SOR

By Editors | 02/09/2019

Singapore’s banking body and foreign exchange market committee have identified SORA as “the most robust and suitable” alternative interest rate benchmark to SOR.

Market Infrastructure

Shenzhen to Pilot Easier Rules on Foreign Exchange Transactions

By Editors | 30/08/2019

To facilitate payments in foreign currencies, SAFE’s Shenzhen branch will move away from the approval-based system to shorten settlement to just minutes rather than hours.

Enforcement

APRA to Improve Capabilities to Combat Non-Financial Risks

By Editors | 30/08/2019

In its four-year corporate plan, APRA identifies four areas of strategic focus, including to improve cyber-resilience and governance standards in the financial sector.

Market Infrastructure

Chinese Regulators Vow to Bring Quality Deals to Market

By FinanceAsia | 30/08/2019

The Chinese securities watchdog updated three draft regulations last week. For investors, it means both opportunity and challenge.

Fintech / Regtech

MAS Opens Applications for Digital Bank Licences

By Editors | 30/08/2019

Successful applicants will be announced in mid-2020, with the expectation that they meet MAS requirements and commence business by mid-2021.

Market Infrastructure

WFE Warns EMIR 2.2 Could Unduly Fragment Global Markets

By Editors | 29/08/2019

The WFE has issued a letter to the European Commission and ESMA outlining principles it says would support the objectives of EMIR 2.2 while limiting its negative consequences.

Market Infrastructure

China to Allow Foreign Banks to Underwrite Interbank Market Bonds

By Editors | 29/08/2019

Foreign banks are currently limited to underwriting business involving offshore non-financial issuers. ‘Class A’ licences will allow them to underwrite bonds in the interbank market.