Extension of MoU includes cooperation on cross-border transactions, product development, information technology and knowledge sharing.
Reserve Bank of New Zealand is working to improve its disclosure regime to uphold three regulatory pillars: self-discipline, market discipline and regulatory discipline.
Other market boosting measures include a stamp duty waiver for stocks, as well as new ETF, ASEAN-centric and derivatives product launches.
New rules propose an approach focused on financial function rather than individual entities; and are expected bring traditional financial firms and fintech firms on level playing field.
Pre-approvals no longer required for wealth management, custody services; procedures simplified for branch opening, executive appointments, bond issuance.
ASEAN CIS framework revised to open greater fund participation between Malaysia, Singapore and Thailand.
Punjab National Bank says $1.8bn fraud went undetected because staff failed to enter SWIFT instructions in core banking software.
The trading obligations would apply to banks with gross notional outstanding OTC derivatives exceeding SGD20 billion.
Shanghai, Shenzhen exchanges have outbid India’s NSE to buy 25% of Dhaka Stock Exchange.
New products will allow SGX participants to maintain exposure to India’s capital markets, following the decision to stop issuing market data licenses to overseas exchanges.