MARKET INFRASTRUCTURE

Market Infrastructure

Nomura AM to Provide CLS Settlement to Japan-Based Funds

By Editors | 20/02/2019

Japan funds to have access to CLS Settlement through Nomura Asset Management in a move to enable PvP settlement and adopt best practices promoted by the FX Global Code.

Market Infrastructure

CBIRC Drafts New Rules for Local Government AMCs – Report

By Editors | 19/02/2019

Many local government-run AMCs have not been focused on dealing with bad loans as intended due to a lack of clarity on their business scope.

Market Infrastructure

SWIFT Publishes Counterparty Cybersecurity Risk Guide

By Editors | 19/02/2019

The guide assists organisations in incorporating their counterparties’ cybersecurity self-attestation data into their risk management frameworks and governance models.

Market Infrastructure

RBI Consults on New Requirements for Benchmark Administrators

By Editors | 18/02/2019

The draft directions under consultation include requirements related to administrators’ minimum net worth, governance arrangements, and organisational structure, among other requirements.

Market Infrastructure

Philippines Expands Central Bank Supervisory Powers

By Editors | 18/02/2019

Amendments to the BSP’s charter will boost its capitalisation and extend its supervisory remit to all financial institutions in the country.

Market Infrastructure

Big Four Auditors Face Parliamentary Scrutiny in Australia

By Editors | 18/02/2019

Amid an ongoing ACCC probe into the big four auditing firms, a parliamentary committee is asking for a review of the audit market to explore conflicts of interest and market dominance issues.

Securities / Derivatives

CBIRC Green-Lights a Fifth Bank’s Wealth Management Subsidiary

By Editors | 17/02/2019

ICBC has become the 5th bank to receive approval to set up a wealth management subsidiary, through which it can channel WMP funds into the stock market.

Market Infrastructure

IOSCO Members, ESMA Can Exchange Information Post-GDPR

By Editors | 15/02/2019

A decision by the European Data Protection Board will enable the continued sharing of information between ESMA and securities regulators outside the EU, in compliance with GDPR.

Fintech / Regtech

BigTechs, Outsourced Services Pose Financial System Risk – FSB

By Manesh Samtani | 14/02/2019

The FSB warns that BigTechs can achieve scale in finance very quickly, raising competitive pressures on incumbents. Rising dependencies on third-party services also present risks.