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Conduct, Culture & Accountability
ASIC ‘Ready to Prosecute’ Underperforming Super Funds
By Editors | 30/03/2019
Australian regulators are trying to force an estimated 100 small and poor performing super funds out of the system using criteria devised by the Productivity Commission.
Structural Regulation
China Approves First Foreign Funded JV for Pensions Business
By Editors | 30/03/2019
A Standard Life Aberdeen joint venture is the first foreign funded insurer authorised to participate in the pensions sector, which to date has been dominated by 8 domestic firms.
Structural Regulation
JPX, TOCOM Enter Basic Agreement to Merge by October
By Editors | 29/03/2019
TOCOM will become a wholly-owned subsidiary of JPX, and together they will launch a consolidated exchange for stocks, financial and commodity derivatives by September 2020.
Structural Regulation
Malaysia Seeks Licensing Regime for Virtual Banks by Year-End
By Editors | 29/03/2019
Though discussions are still in the preliminary stages, Malaysia’s central bank is looking to publish its requirements for virtual bank licences by the end of the year.
Structural Regulation
S. Korea FSC Receives Three Applications for Internet-Only Banks
By Editors | 29/03/2019
The FSC will review the applications with an aim to approving a preliminary licence for one or two new internet-only banks in May.
Trading & Investment
China Retail Investors Take a Liking to Government Bonds
By Editors | 29/03/2019
China’s pilot scheme allowing banks to sell government bonds to retail investors has been met with success, with over $200mn in bonds sold in a single day.
Structural Regulation
UK FCA Fines Goldman for MiFID Transaction Reporting Failures
By Editors | 29/03/2019
Goldman has been penalised over $44mn for making over 220 million transaction reporting errors over 9.5 years. The fine is larger than UBS received earlier this month.
Conduct, Culture & Accountability
The MAS Approach to Cultivating Ethical Culture in Banking
By Manesh Samtani | 29/03/2019
MAS emphasises incentive structures as the key to driving ethical behaviour and encourages banks to adopt good practices highlighted in a new information paper.
Conduct, Culture & Accountability
APRA May Intervene to Shift Bank Remuneration Practices
By Editors | 28/03/2019
APRA chairman Wayne Byres says banks could lose their power to set executive pay if they are not more proactive about changing remuneration practices.
Trading & Investment
SGX Bolsters Forex Business with BidFX Acquisition
By Editors | 28/03/2019
The acquisition is part of SGX’s strategy to build core pillars of growth across multiple asset classes, with FX being one of its key growth pillars.
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