Securities and fund management firms are expected to establish and improve internal accountability mechanisms for senior managers, and penalise violations with clawback and malus.
The RBI working group suggests corporates be allowed to own up to 26% of banks, and NBFCs be allowed to convert to a banking licence.
The paper seeks views on the adequacy of the current regulatory architecture for developments such as stablecoins, cryptocurrency, digital wallets, stored value facilities and open banking.
The inclusion of Japan's FSA, BNM and Bank of Canada on the steering committee will widen the NGFS' global reach and strengthening its geographical representation.
RMB funding of up to 3 months will be channelled to primary dealers, thereby enhancing credit intermediation and overall RMB market liquidity in Singapore.
ASIC had earlier said it would determine whether ASX followed the relevant regulatory requirements and met its licence obligations.
Physical and transition risks could combine to increase destabilisation, the FSB says in a new report, citing “numerous sources of uncertainty”.
The regular reports will guide the degree of the central bank's supervisory engagement with individual institutions, BSP deputy governor Chuchi Fonacier told Regulation Asia.
The FSC has enacted an enforcement decree setting out the requirements for benchmark administrators, contributors and users.
ISDA and 13 other associations say they believe an extension of the transitional period for third-country benchmarks under BMR is urgently needed.
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