Markets & Infrastructure

Conduct, Culture & Accountability

NZ FMA Drafts New Conduct Guidance for Financial Products Sales

By Sanday Chongo Kabange | 22/02/2023

The draft guidance covers any situation where an intermediary is involved in the distribution of a financial institution’s products or services.

Data Privacy

Chinese SOEs Being Asked to Stop Using Big Four Auditors

By Editors | 22/02/2023

Chinese SOEs are being asked to allow their contracts with the big four audit firms to expire and use local accountants instead.

Supervision & Enforcement

Wells Fargo, HSBC Drawn into SEC Whatsapp Probe

By Editors | 22/02/2023

Wells Fargo said regulators are investigating its compliance with records-retention requirements. HSBC said it is close to a settlement with regulators.

Market Data & Technology

14 European Exchanges Join Forces to Develop Consolidated Tape

By Editors | 22/02/2023

The participating exchange groups include Deutsche Boerse Group, Euronext, Nasdaq, and SIX Group, as well as the local exchanges in  several European cities.

Payments & Settlements

RBI Publishes Full List of Payment Aggregator Approvals

By Editors | 22/02/2023

This is the first time the RBI has published a list of entities that sought approval to act as online payment aggregators.

Conduct, Culture & Accountability

Korean Regulators to Target Unfair Terms in Financial Contracts

By Editors | 22/02/2023

The FSS and FTC called on financial firms to prevent unfair contractual terms, pledging to ramp up oversight to better protect consumers.

Payments & Settlements

ISO 20022 Adoption Benefits Banks and Their Clients

By Kevin Wong | 22/02/2023

The global implementation of the ISO 20022 standard beginning in March 2023 marks the start of an exciting new era for cross-border payments, says Kevin Wong.

Trading & Investment

Beijing Stock Exchange Launches Market Making Business

By Editors | 21/02/2023

13 firms will participate in market making activities for 36 stocks. Two other authorised market makers are still engaged in preparatory work.

Emerging Prudential Risks

FSB Highlights NBFI, Crypto and DeFi as Key Priorities for 2023

By Editors | 21/02/2023

In a letter to G20 ministers, FSB chair Klaas Knot discusses commodity market vulnerabilities and work to address DeFi/crypto risks and enhance cross-border payments.