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Emerging Prudential Risks
No-Deal Brexit to Have Little Impact on S. Korea, says FSS
By Editors | 22/02/2019
If the UK crashes out of the EU without an orderly exit deal in place, the damage to South Korea’s economy will be slight, according to the Financial Supervisory Service.
Clearing & Post-Trade
SEBI Revises Haircuts on G-Secs Used as Stock Trading Collateral
By Editors | 22/02/2019
Following feedback from clearing corporations, there will now be three haircut slabs depending on the type and tenure of government securities.
Structural Regulation
HKMA Turns Up the Heat, Announces Consultation on IBOR Transition
By Will Hallatt | 22/02/2019
The outcome of the HKMA and TMA consultation will be a turning point for financial services firms preparing for life after LIBOR, says international law firm Herbert Smith Freehills.
Market Abuse
SFC Issues Update on ‘Front Loaded’ Approach to Listing Rules
By Editors | 22/02/2019
The SFC “will not hesitate to intervene at an early stage” when it has serious concerns about IPO applications or post-IPO corporate transactions.
Conduct, Culture & Accountability
Australia Passes Law Enhancing Whistleblower Protections
By Editors | 22/02/2019
The law expands the whistleblower definition, extends protections for those who report misconduct, and requires companies to have a whistleblower policy.
Supervision & Enforcement
ASIC Finalises HSBC’s 2016 Enforceable Undertaking
By Editors | 21/02/2019
Under HSBC Australia’s remediation programme, the bank offered about A$690,000 in compensation to 104 clients who may have received inappropriate advice.
Conduct, Culture & Accountability
Australia Expands Remit of New Financial Complaints Authority
By Editors | 21/02/2019
As the Royal Commission considered misconduct cases dating back to 1 January 2008, AFCA’s remit will be expanded to enable reviews of eligible complaints over the same period.
Trading & Investment
EU, Singapore Agree to Mutually Recognise Derivatives Venues
By Editors | 21/02/2019
Singapore and EU-based firms will be able to trade derivatives on approved platforms based in either jurisdiction following proposed equivalence decisions by both regulators.
Clearing & Post-Trade
Daiwa Securities Completes Trade Matching POC Using DLT
By Editors | 21/02/2019
Japan’s Daiwa Securities Group has announced the completion of a proof of concept studying the effectiveness of using distributed ledger technology in trade matching processes.
Payments & Settlements
Japan to Allow Non-Banks to Handle Large Remittances
By Editors | 21/02/2019
In a bid to improve remittance services in the country and promote fintech, Japan plans to ease limits on non-banks providing money transfer services.
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