Under the proposal, auditors will be required to finalise their audit reports and make detailed disclosures regarding their reasons for resignation from listed companies.
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.
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 participants appear to be relying heavily on protective measures, while underinvesting in detection measures as part of their overall cyber-resilience, the FMA said.
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.
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.
The FSC has announced changes to the operational procedures of its evaluation committee for internet-only bank, amid plans to reopen applications for new licences on 10 October.
Among the review's recommendations are proposed veto powers to prevent the appointment or reappointment of "inappropriate" directors and senior executives at regulated entities.
The IMF says Singapore's financial system would continue to be resilient even under very adverse scenarios, but that foreign currency liquidity risk needs to be addressed.