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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.
Big Picture
Buy-Side to Provide Stability in Bond Market Stress: IOSCO
By Manesh Samtani | 24/06/2019
Intermediaries and banks are less likely to provide liquidity during times of stress because of post-crisis changes in regulation and risk appetite.
Market Infrastructure
New Zealand to Introduce Licensing Regime for Financial Advisers
By Editors | 24/06/2019
The new regime will require all New Zealand financial advisers to be licensed by the FMA, effective from June 2020.
Market Infrastructure
ASIFMA Standardises Underwriter Documentation for Hong Kong IPOs
By Manesh Samtani | 24/06/2019
The initiative will promote efficiency and reduce costs and legal risks by offering standardised forms for agreements among underwriters and between underwriting syndicates.
Enforcement
Hong Kong SFC Releases 2018-19 Annual Report
By Editors | 24/06/2019
The SFC is working to introduce an investor identification regime for southbound Stock Connect trading in mid-2019, and considering adopting a market-wide circuit breaker mechanism.
Market Infrastructure
Mirae Asset Daewoo to Launch Payments Business
By Editors | 21/06/2019
The FSC lifted restrictions barring brokerage firms from entering the payments business last December. WeChat Pay will be used in Mirae Asset Daewoo’s new payment gateway.
Market Infrastructure
FMSB Issues Draft Good Practice Statements on Conflicts of Interest
By Editors | 21/06/2019
The FICC Markets Standards Board provides new guidance to help market participants identify, prevent, manage and mitigate conflicts of interest.
Market Infrastructure
BOC Becomes LCH’s First Chinese Clearing Member
By Editors | 21/06/2019
Bank of China now has access to clearing of interest rate derivatives at LCH, and can act as a clearing broker to offer the service to its clients.
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