Market Infrastructure

Wealth management subsidiaries set up by commercial banks can directly invest funds from wealth management products into the stock market.

Stockbrokers and depository participants will have to formulate a comprehensive cyber security and cyber resilience policy document in accordance with the guidelines by April 2019.

UBS will become the first foreign financial institution to take a controlling stake in a China-based securities joint venture, having now received formal approval from the CSRC.

The MAS will support financial institutions that establish global or regional cybersecurity centres in Singapore, or run key cybersecurity functions from the city to develop local capabilities.

The bourse said the move to a shorter settlement cycle will improve operational efficiency, reduce counterparty risk and improve the competitiveness of Malaysia's capital market.

The approval marks the launch of the Shanghai-London Stock Connect, which allows China- and London-listed firms to issue depository receipts in each other's markets.

Banking system reforms will have to adapt to new risks to mitigate the effects of the next financial crisis, said BCBS secretary general William Coen, hinting at a future 'Basel IV'.

Entities transacting in government securities, money markets and non-derivative forex markets will be required to have LEI codes, starting with larger firms in April 2019.

Though domestic financial stability risks have abated, the RBNZ said higher bank capital requirements are necessary, while also easing mortgage lending curbs.

CBIRC proposes more stringent supervision of foreign banks to improve “risk resilience” and customer protection, following the release of measures to further open up the banking industry.