Market Infrastructure

AML / KYC

HKMA Grades SVF Sector as ‘Medium Risk’ in Latest AML/CTF Assessment

By Manesh Samtani | 22/07/2019

While most of the sector presents low risk, higher risk has emerged in SVF products that allow overseas cash withdrawals, cross border remittances, and person-to-person transfers.

Market Infrastructure

China Announces 11 Measures to Open Up Financial Sector

By Editors | 22/07/2019

The measures ease restrictions on foreign investment in securities firms, asset management companies, FX brokerage, insurance and pension management, among others.

Market Infrastructure

SEBI Proposes Additional Requirements for Resigning Auditors

By Editors | 22/07/2019

Under the proposal, auditors will be required to finalise their audit reports and make detailed disclosures regarding their reasons for resignation from listed companies.

Market Infrastructure

No Time for Complacency Despite Two-Year BMR Reprieve

By Gregory Campbell | 21/07/2019

Third country benchmark administrators will need every bit of the additional time granted for BMR compliance to ensure their benchmarks get approved, say PwC’s Gregory Campbell and Daniela Bunea.

Market Infrastructure

SWIFT Completes Latest gpi Trial with Singapore FAST

By Editors | 21/07/2019

All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.

Market Infrastructure

Hong Kong, China Framework Comparison – Conduct and Culture

By Prasanna Venkatesan | 18/07/2019

Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai compare China and Hong Kong’s regulatory frameworks in relation to culture and conduct.

Market Infrastructure

New Zealand FMA Assesses Financial Sector Cyber Resilience

By Editors | 18/07/2019

Market participants appear to be relying heavily on protective measures, while underinvesting in detection measures as part of their overall cyber-resilience, the FMA said.

Big Picture

Competitive Dynamics in Banking Intensify Across APAC: S&P Global

By Manesh Samtani | 18/07/2019

Indigenous virtual banks, global digital-only banks, and digitised traditional banks are all vying for market share, says a new report from S&P Global Ratings.

Capital / Liquidity

China Enhances Market Exit Mechanism for Failing Financial Institutions

By Editors | 18/07/2019

China currently lacks smooth market exit channels, reflected in insufficient supporting measures and high exit costs for financial institutions in distress, said an NDRC spokesperson.