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Structural Regulation
FSC Korea Receives Applications for Internet-only Bank Licences
By Editors | 16/10/2019
The FSC said it plans to make a decision on initial approvals in December, after three consortia submitted bids in the second round of applications for internet-only bank licences.
Conduct, Culture & Accountability
Australia to Form New Disciplinary Body for Financial Advisers
By Editors | 15/10/2019
The plan undoes months of effort by industry associations to form an independent body to monitor and enforce compliance with a new code of ethics for financial advisors.
Emerging Prudential Risks
FSB Highlights Market Fragmentation Issues in Letter to G20
By Manesh Samtani | 15/10/2019
In a letter to the G20 finance ministers and central bank governors, the FSB says the development of post-crisis reforms is “nearly complete”, but implementation progress remains uneven.
Structural Regulation
ACCC to Probe Banks on Mortgage Pricing Decision-making
By Editors | 15/10/2019
The ACCC is commencing an inquiry to find out why banks are not fully passing on interest rate cuts to borrowers, and what prevents customers from switching to cheaper lenders.
Data Privacy
FSB, IMF Report Progress on G20 Data Gaps Initiative
By Editors | 14/10/2019
The report notes that China is one of the countries that has outstanding issues with removing barriers to full trade reporting and access to trade repository data.
Structural Regulation
BOJ Deputy Governor Calls for Collective Action on LIBOR Transition
By Manesh Samtani | 13/10/2019
LIBOR’s permanent discontinuation will be one of the “most significant events in global financial history”, BOJ deputy governor Masayoshi Amamiya said at ASIFMA’s Annual Conference.
Payments & Settlements
Maybank to Enable Real-time Payments for Cambodia, Malaysia
By Editors | 12/10/2019
Cambodia’s central bank and Malaysia’s Maybank will work together to enable real-time cross-border transfers, payments and remittances between the two countries.
Trading & Investment
Shenzhen, Swiss Bourses Sign Memorandum of Understanding
By Editors | 12/10/2019
The initiative will be used to share know-how, expand client networks, and explore cross-border financing alternatives and cooperation in research projects.
Structural Regulation
Stock Connect to Launch Southbound Investor ID Regime “Soon”
By Editors | 12/10/2019
The launch of the investor identification regime for southbound trading will mark the first time mainland investors will have their personal information shared with Hong Kong’s regulator.
Trading & Investment
SEBI Allows Indian Firms to Issue Depository Receipts
By Editors | 12/10/2019
Domestically listed companies will be allowed to issue depository receipts on certain international bourses as well as on GIFT City exchanges.
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