Asia-Pacific

The DSE's 'Financial Data Exchange Platform' will allow regulators, market infrastructures and financial institutions to safely and efficiently exchange messages and files.

The new commercial credit reporting system, set for launch by end-May, will improve the lending process for more than 50 financial institutions in Cambodia.

In Asia, most jurisdictions have made progress with Basel III adoption, though most have yet to make progress on non-cleared derivatives margining and CCP regulation.

Banks have not invested sufficiently in modernising their core internal systems due to a stronger focus on customer-facing applications, says Synpulse partner Salomon Wettstein.

61% of the survey respondents said there is too little personal accountability in ASEAN’s financial sector, compared to just 16% who believe there is too much.

The open banking initiative could be put in jeopardy if data is not sufficiently secured, say Peter Lancos, Jonathan Naismith and Suraj Nittoor at Exate Technology.

The second phase of the programme is aimed at helping troubled borrowers who owe credit card and personal loan debt to both bank and non-bank lenders.

The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.

The draft rules set out requirements for brokers and dealers in relation to short selling of securities, which is currently prohibited in Bangladesh.

Regulation Asia sat down with SIX's Neil Thomas and Robert Jeanbart to discuss what sanctions monitoring means for financial institutions in Asia.