Markets & Infrastructure

Data Privacy

Australia to Re-Introduce Open Banking Legislation This Week

By Editors | 23/07/2019

The Australian Banking Association welcomes the re-introduction of the legislation, following a lapse earlier this year when the federal parliament was dissolved.

Trading & Investment

China Kicks Off Trading in New SSE STAR Market

By Editors | 23/07/2019

The first batch of 25 stocks raised over $5.4bn and ended the day higher by an average of 140% from their IPO prices, with some rising as much as 520% during the session.

Structural Regulation

China Announces 11 Measures to Open Up Financial Sector

By Editors | 22/07/2019

The measures ease restrictions on foreign investment in securities firms, asset management companies, FX brokerage, insurance and pension management, among others.

Structural Regulation

HKMA Delegated Powers to Inspect Banks’ Insurance Business

By Editors | 22/07/2019

The Insurance Authority is delegating inspection and investigation powers to the HKMA in relation to insurance related business conducted by authorised institutions.

Fraud, Scams & Cybercrime

SEBI Proposes Additional Requirements for Resigning Auditors

By Editors | 22/07/2019

Under the proposal, auditors will be required to finalise their audit reports and make detailed disclosures regarding their reasons for resignation from listed companies.

CBDCs

BOT Concludes Project Inthanon’s Second Phase

By Manesh Samtani | 22/07/2019

Phase 2 used smart contracts to automate bond lifecycle events, and introduced pre-validation to reduce error and fraud in funds transfers. Phase 3 will be a joint effort with the HKMA.

Structural Regulation

No Time for Complacency Despite Two-Year BMR Reprieve

By Gregory Campbell | 21/07/2019

Third country benchmark administrators will need every bit of the additional time granted for BMR compliance to ensure their benchmarks get approved, say PwC’s Gregory Campbell and Daniela Bunea.

Conduct, Culture & Accountability

ASIC Proposes Total Ban on Insurance Sales by Phone

By Editors | 21/07/2019

ASIC’s ban will protect consumers where sales issues and consumer harm have already been identified, ahead of wider legislative reform by the government.

Payments & Settlements

SWIFT Completes Latest gpi Trial with Singapore FAST

By Editors | 21/07/2019

All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.