Banks are expected to review their remuneration systems and adopt all necessary changes by 1 January 2022, the HKMA says.
The report indicates that the risks were known, but responsible parties in the first and second lines simply failed to act.
Regulators will continue to allow VIE structures, recognising that they serve as a vital way for companies to attract foreign capital.
BIS Innovation Hub Singapore Centre and MAS have published a blueprint that could make real-time cross-border payments a reality in the next two to four years.
Local banks and finance companies should still exercise continued prudence in their discretionary distributions, and prioritise support to customers.
Crypto exchanges in Korea are required to use bank accounts under their real names. Third party bank accounts are not allowed.
The BOJ will offer zero-interest funds to FIs making loans and investments to tackle climate change, study the programme's impacts, and make adjustments when necessary.
Market observers reported a sharp increase in SOFR swaps transacted, a trend said to be "clear and pronounced".
The FCA will remove the presumption of suspension at the point when an acquisition target is identified, for SPACs that meet certain criteria.
The AFP uncovered evidence that the man was generating income for North Korea's government by facilitating the transfer of various commodities to and from the country.
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