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Structural Regulation
Mortgage Brokers Push Back Against Hayne Recommendations
By Editors | 08/02/2019
A blanket ban on commissions as suggested by Kenneth Hayne would have a “devastating effect” on mortgage broking industry, says MFAA CEO Mike Felton.
Clearing & Post-Trade
ASIC ‘Well-Placed’ to Manage Impacts of No-Deal Brexit
By Editors | 08/02/2019
ASIC says it is carefully monitoring developments and has been liaising closely with UK and Australian authorities to plan for potential Brexit-related impacts.
Trading & Investment
Philippine Banks Required to Report on Deposit, Loan Rates
By Editors | 08/02/2019
Bank interest rates on loans and deposits will be published to allow consumers to compare costs, and to enhance the BSP’s monitoring and analysis.
Structural Regulation
MAS Consults on Revisions to Banking Act
By Editors | 08/02/2019
Among the amendments are proposals to expand the grounds for which MAS can revoke a bank licence, and expanded circumstances for auditors to report on a bank’s financial soundness.
Conduct, Culture & Accountability
NAB Chief Steps Down Amid Royal Commission Criticism
By Editors | 07/02/2019
Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.
Market Abuse
SEBI Directs Exchanges to Check Volatile Stocks for Manipulation
By Editors | 07/02/2019
SEBI has asked the BSE and NSE to boost intra-day surveillance to check unusually volatile stocks for possible manipulation.
Structural Regulation
India to Set Up Unified Regulator for GIFT City Financial Services
By Editors | 07/02/2019
A bill to establish a unified regulator to oversee financial services at India’s GIFT City has been approved by the country’s cabinet.
Clearing & Post-Trade
ISDA Launches Digital Platform to Automate IM Documentation
By Editors | 07/02/2019
‘ISDA Create – IM’ is expected to significantly reduce the time and resources it takes to negotiate margin documentation for participants in non-cleared OTC derivatives markets.
Structural Regulation
BSP Eases Licensing for Banks Seeking Special Authorities
By Editors | 06/02/2019
Business decisions made largely as part of managing regular operations will no longer require the BSP’s approval.
Credit Risk
Myanmar Allows 35pc Foreign Ownership in Local Banks
By Editors | 05/02/2019
Foreign funding will support growing demand for financing and help banks upgrade loan screening and data systems.
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