The majority of third-country benchmarks pose no systemic risk but could nevertheless be barred from use in the EU due to a costly and burdensome third-country benchmark regime.
Non-bank operators can apply for a new licence to issue e-money in foreign currencies for customer payments for cross-border goods and services.
The Covid-19 pandemic has affected companies' financial performance in the first half of the year, making them ineligible to list on the stock market.
The six-month deferral is intended to give FIs more time to prepare for implementation, given the impact of the Covid-19 pandemic.
Financial advisers will have to disclose to clients details about fees, the range of products they advise on, conflicts of interest and commissions they may earn.
The automation of markets enables a wider movement towards valuing companies on their moral contributions to society as much as their ability to maximise profitability, says HKEX’s Adam Wielowieyski.
Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.
At least two major banks are expected to be allowed to conduct investment banking business intially, rather than the full range of securities services.
Fifteen banks and eight bank holding companies opted to adopt the Basel III credit risk framework early as it will boost their capital adequacy ratios.
From 13 July, issuers can list derivative warrants, CBBCs and inline warrants for trading on the third trading day after the submission of their term sheets.