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Structural Regulation
New Zealand Delays New Financial Advice Regime
By Editors | 27/03/2020
The new regime will be deferred until at least March 2021, allowing financial advisers to focus on helping their clients, staff and families during “this difficult time”, the FMA says.
Conduct, Culture & Accountability
Woori Financial Chief Gets Reappointment Despite FSS Sanctions
By Editors | 27/03/2020
A Seoul court has granted an injunction against FSS sanctions that would have prevented chairman Sohn Tae-seung from seeking another term at Woori Financial Group.
Liquidity Risk
SFC Steps Up Scrutiny of Fund Industry Amid Recent Volatility
By Editors | 27/03/2020
The SFC reminds managers, trustees, custodians and intermediaries of funds to look out for clients interests amid “unprecedented volatility across asset classes”.
Capital Adequacy
SC, Bursa Malaysia Ease Margin Financing Rules for Brokers
By Editors | 26/03/2020
Brokers are no longer required to liquidate client holdings, make margin calls, or impose haircuts on collateral if client equity balances fall below 130%.
Liquidity Risk
BOK Promises “Unlimited Liquidity” for Financial Firms
By Editors | 26/03/2020
South Korean authorities will also reduce the amount of high-quality foreign assets banks need to hold to free up additional US dollar liquidity.
Liquidity Risk
MAS Offers Banks US Dollar Funding
By Editors | 26/03/2020
Banks are “strongly encouraged” to avail themselves of MAS liquidity facilities so that they can better serve customers.
Structural Regulation
Interim LIBOR Transition Milestones May Be Affected: FCA
By Editors | 26/03/2020
While end-2021 remains the firm target date for all firms to meet, interim transition milestones in some of the less prepared segments such as loan markets may be affected.
Structural Regulation
MAS, ACRA, SGX RegCo Set Out Expectations on Meeting Conduct
By Editors | 26/03/2020
MAS, SGX RegCo and ACRA expect all issuers to comply with the Ministry of Health’s mandatory safe distancing measures. Legislative amendments will be introduced.
Structural Regulation
ZA Bank Announces Launch as Hong Kong’s First Virtual Bank
By Editors | 25/03/2020
ZA Bank – backed by mainland insurer ZhongAn Online P&C Insurance and Sinolink Group – won one of the first approvals to set up a virtual bank in March last year.
Clearing & Post-Trade
ASX to Delay Implementation of CHESS Replacement
By Editors | 25/03/2020
ASX will launch a public consultation in June on a new timetable for its CHESS replacement project, amid uncertainty created by the coronavirus pandemic.
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