Market Infrastructure

Market Infrastructure

NZ FMA Issues Cyber Resilience Guidance for Financial Advisers

By Sanday Chongo Kabange | 30/07/2021

Under New Zealand’s new financial advice regime, many individuals and entities have not previously been subject to compliance obligations for cybersecurity.

Market Infrastructure

HKMA Updates Guidance on Bank Remuneration Systems

By Manesh Samtani | 30/07/2021

Banks are expected to review their remuneration systems and adopt all necessary changes by 1 January 2022, the HKMA says.

Market Infrastructure

ASX to Replace Standard Definitions for Interest Rate Swaps

By Editors | 29/07/2021

From 4 October, all OTC interest rate derivatives contracts will be treated as if they incorporated the new 2021 ISDA Definitions.

Market Infrastructure

Singapore Offers Guidance on Converting Legacy SOR Contracts

By Manesh Samtani | 29/07/2021

Guidance is offered on wholesale markets, corporate loans, derivatives, bonds and retail loans. A public education campaign will start in September 2021.

Market Infrastructure

Culture & Conduct Risk: The Normalization of Deviance

By Stephen Scott | 29/07/2021

Many still believe that misconduct can be discovered only after it occurs: a ‘detect and correct’ mindset. Starling’s Stephen Scott says a ‘predict and prevent’ approach is starting to emerge.

Market Infrastructure

BIS, MAS Set Out Blueprint for Cross-border Payments

By Ranamita Chakraborty | 29/07/2021

BIS Innovation Hub Singapore Centre and MAS have published a blueprint that could make real-time cross-border payments a reality in the next two to four years.

Market Infrastructure

RBI Opens RTGS, NEFT to Non-bank Payment System Providers

By Editors | 29/07/2021

Prepaid payment instruments, white label ATM operators and card networks can now connect to the RTGS and NEFT systems.

Market Infrastructure

ASIC Faces Pushback for Higher Financial Advice Levies

By Ranamita Chakraborty | 29/07/2021

The FPA says the formula ASIC uses to estimate the industry funding levy for financial planners is not equitable or sustainable and must be reviewed immediately.

ESG / Sustainability

BOJ to Pursue ‘Learning-by-doing’ Approach to Climate Risk

By Editors | 29/07/2021

The BOJ will offer zero-interest funds to FIs making loans and investments to tackle climate change, study the programme’s impacts, and make adjustments when necessary.