ICBC has become the 5th bank to receive approval to set up a wealth management subsidiary, through which it can channel WMP funds into the stock market.
A decision by the European Data Protection Board will enable the continued sharing of information between ESMA and securities regulators outside the EU, in compliance with GDPR.
The FSB warns that BigTechs can achieve scale in finance very quickly, raising competitive pressures on incumbents. Rising dependencies on third-party services also present risks.
Firms in Asia need to start preparing for the impacts SFTR will have on the way they manage their information flow when working with European counterparties, says DTCC's Oliver Williams.
IOSCO has identified some gaps in the implementation of its 'Secondary and Other Market Principles', particularly in nascent and emerging market jurisdictions.
In addition to identifying emerging risks, the FSB will focus on finalising, operationalising and monitoring the implementation of post-crisis reforms.
The FSB is launching new studies to assess the impact of post-crisis reforms while actively working to identify new sources of risk to the financial sector.
The RBI wants banks to operate as subsidiaries of financial holding companies, with other business arms also split off into separate subsidiaries.
Former central bank governor YV Reddy says there is no doubt the government has a claim over the RBI's reserves, but questions how it is exercising its claim.
ASIC says it is carefully monitoring developments and has been liaising closely with UK and Australian authorities to plan for potential Brexit-related impacts.