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Structural Regulation
CSRC Probe Forces Ant Group to Delay IPO – Report
By Editors | 13/10/2020
The CSRC is said to be looking into the role of Alipay as the only third-party channel through which retail investors could buy into five mutual funds investing in the IPO.
Payments & Settlements
Wirecard Service Halt Disrupts Singapore Merchants – Report
By Editors | 13/10/2020
Singapore merchants were caught off guard when Wirecard services stopped functioning this month. Many have been accepting payments via bank transfer, cash or digital platforms.
Trading & Investment
PBOC Scraps Risk Reserve Requirement on FX Forwards
By Editors | 13/10/2020
The risk reserve ratio previously made it more expensive to bet against the yuan by forcing FIs to set aside extra cash when buying FX forwards for clients.
Payments & Settlements
FSB Publishes Roadmap on Enhancing Cross-Border Payments
By Editors | 13/10/2020
The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.
Structural Regulation
Japan Financial Hub Ambitions Centre on Three Cities – Report
By Editors | 13/10/2020
Prime Minister Yoshihide Suga reportedly plans to quickly address issues concerning taxation, residency requirements and language support to attract foreign talent.
Cloud & Infrastructure
FSB Calls on Authorities to Regulate BigTech in Financial Services
By Editors | 12/10/2020
Where financial services activities are undertaken by new types of actors, such as BigTech firms, the principle of ‘same risk-same regulation’ should apply, the report says.
Trading & Investment
BIS Paper Presents Alternative to Forward-looking Term Rates
By Manesh Samtani | 12/10/2020
Many banks have adopted a “wait and see” approach to the LIBOR phase-out, waiting to forward-looking term rates based on RFR derivatives to become available.
Payments & Settlements
SWIFT Completes Another gpi Pilot with UK Faster Payments
By Editors | 11/10/2020
Over the past two years, SWIFT has run successful proof of concepts with payment infrastructures in Singapore, Australia and Europe.
Trading & Investment
CSRC Forms Preparatory Group for Guangzhou Futures Exchange
By Editors | 11/10/2020
The establishment of a new futures exchange in Guangzhou was part of a policy blueprint for the GBA released earlier this year.
Structural Regulation
GBA Regulators Advance Policy Work on Cross-border Mortgages
By Manesh Samtani | 11/10/2020
The HKMA’ Edmond Lau says encouraging progress has been made to allow Hong Kong banks to provide cross-border mortgage services in the Greater Bay Area.
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