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Conduct, Culture & Accountability
S.Korea to Tighten Financial Holding Company Governance Rules
By Editors | 18/03/2018
Financial regulator says it will toughen rules on appointments amid corporate governance concerns re excessive influence, lack of innovation.
Cloud & Infrastructure
Malaysia Establishes Working Group to Digitise Brokerage Industry
By Garima Chitkara | 18/03/2018
The BRIDGe working group will work to enhance operational efficiencies and service standards, promote innovation and reduce brokerage costs.
Cryptocurrency
Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain
By Manesh Samtani | 17/03/2018
In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.
Conduct, Culture & Accountability
ASIC Mandates Banks’ Further Removal of Unfair Loans Terms
By Editors | 17/03/2018
New guidance ensures bank staff are held responsible for conduct and statements outside of formal contracts; removes borrower’s liability in the event of lender misconduct.
Market Abuse
Shanghai, Shenzhen Bourses Draft Compulsory Delisting Rules
By Editors | 16/03/2018
False, misleading or fraudulent listing, restructuring documents or other disclosures including annual reports will trigger the delisting mechanism.
Structural Regulation
Deutsche Fined, Censured for HK Regulatory Breaches
By Samuel Riding | 15/03/2018
Securities regulator says fine would have been much higher were it not for self-reporting of breaches, cooperation in inquiry and ‘remedial measures’.
Conduct, Culture & Accountability
CLSA Fined $1.15mn for Internal Control Failures – SFC
By Manesh Samtani | 15/03/2018
The firm failed to put in place controls to prevent co-mingling of agency execution and client facilitation services.
Conduct, Culture & Accountability
MAS to Weigh in on Bank HR Practices
By Samuel Riding | 15/03/2018
Advisory group will develop best practices for the industry, including more inclusive, skills-based hiring policy.
Clearing & Post-Trade
SGX to Merge OTC, Exchange Derivatives into Single Risk Class for Clearing Fund
By Samuel Riding | 14/03/2018
Move follows MAS consultation on moving all OTC derivatives contracts onto organised markets.
CBDCs
BIS, CPMI Report Outlines Dangers of Central Bank Digital Currencies
By Manesh Samtani | 14/03/2018
Central bank-issued digital currencies can enhance payments, settlement, efficiency; but financial stability implications warrant consideration.
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