Credit unions, building societies will be able to raise funds without having to forego their status as customer-owned entities.
ASEAN conference also hears of plans to allow cross-border transfer of capital markets professionals without additional license requirements.
Corporate borrowers which do not satisfy LEI requirement will not be allowed any more credit amid continued efforts to clean up bad debt.
Developers to conduct due diligence checks on sources of funding, buyers must use their own accounts to make property purchases in AML drive.
Calls for EU wide deposit insurance are supposed to herald banking union. But regulatory enforcement, national policies and financial technology stand in the way.
Report suggests AI and machine learning could create new systemically important players, warns on opacity, audit difficulty.
HKMA says audit functions must be separate from risk and compliance; will only allow outsourcing ‘under very limited circumstances’.
Move is part of President Moon Jae-in’s Chaebol clean-up campaign, follows proposal to make agencies liable for ‘defective ratings’.
Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.
Central bank says many firms representing as technology providers are in fact providing finance for clients who can’t access conventional resources.