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Payments & Settlements
Myanmar Banks Fail to Resume Operations Despite CBM Order
By Ranamita Chakraborty | 11/03/2021
The banking sector is not fully operational due to staff shortages as employees take part in nationwide protests against the military government.
Operational Risk
APRA Accepts Court Enforceable Undertaking from Allianz
By Editors | 11/03/2021
Allianz Australia acknowledges previous risk and compliance weaknesses and emphasises its commitment to addressing these issues.
Structural Regulation
HK: BNO Passports May Not be Used for Early MPF Withdrawal
By Editors | 11/03/2021
MPF scheme members cannot rely on a BN(O) passport or its associated visa as evidence in support of an application for early withdrawal of MPF.
Trading & Investment
Travel Restrictions Holding Up Wealth Management Connect
By Manesh Samtani | 10/03/2021
PBOC official Bai Hexiang said the Wealth Management Connect scheme can be implemented once people can travel freely between Hong Kong, Macau and the mainland.
Structural Regulation
BOJ, FSA Urge FIs to Push Forward LIBOR Transition
By Manesh Samtani | 09/03/2021
The regulators say the transition must continue without reliance on a potential synthetic JPY LIBOR, which would be restricted to tough legacy contracts even if published.
Payments & Settlements
HKMA Issues Guidance for Bond Connect FX Settlement Banks
By Editors | 09/03/2021
Hong Kong FX Settlement Banks should ensure that FX conversion and hedging transactions arise from “genuine and reasonable” Bond Connect investment needs.
Conduct, Culture & Accountability
BSP Advocates Passage of New Consumer Protection Law
By Ranamita Chakraborty | 09/03/2021
The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.
Trading & Investment
OSE, TOCOM Propose Revised Contingency Plans for Derivatives
By Sanday Chongo Kabange | 09/03/2021
The OSE and TOCOM have proposed revisions clarifying the standards by which they will halt and resume trading in the event of a disruption in the derivatives market.
Trading & Investment
Bursa Malaysia Revamps Crude Palm Kernel Oil Futures Contract
By Editors | 09/03/2021
The enhancements aim to create an effective hedging instrument against the physical market and provide an alternative instrument for participants.
Trading & Investment
SEBI Updates Rules on UCC, PAN Use in Commodity Derivatives
By Sanday Chongo Kabange | 09/03/2021
Execution of commodity derivatives trades will be prohibited without an upload of clients’ UCC details, which should be accompanied by the PAN or e-PAN.
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