The European General Data Protection Regulation should already be one of the next items on institutions’ agendas, according to Sia Partners.
Move follows introduction earlier this year of licensing system for foreign asset managers to set up private funds in China.
Credit unions, building societies will be able to raise funds without having to forego their status as customer-owned entities.
Although China has set up supervisory mechanisms, it has not yet established an information sharing mechanism to help establish global systemic risk.
Wu Qing, chairman of Shanghai Stock Exchange, calls for greater liberalisation; PBOC official says to consider lowering access thresholds.
ASEAN conference also hears of plans to allow cross-border transfer of capital markets professionals without additional license requirements.
Financial Investment Association says Chain ID is a world first, authentication only has to be performed once every three years.
Regulator says current laws are hindering development of financial technology sector; aims to promote ‘full scale digital economy’.
Regulators will develop framework for supervising fund managers, share information and staff amid increasing capital market ties.
Report suggests AI and machine learning could create new systemically important players, warns on opacity, audit difficulty.