Structural Regulation

Payments & Settlements

RBA Underlines High Cost of Cross-Border Transfers via Big Banks

By Editors | 11/12/2019

The average mark-up over the wholesale exchange rate is around 5.5% for the major banks, versus about 1% for the digital money transfer services, said RBA governor Philip Lowe.

Trading & Investment

KRX to Tighten Rules on Algorithmic and AI-based Trading

By Editors | 11/12/2019

Algorithmic trading is not illegal in Korea, but authorities have long been concerned that the practice may cause market confusion and disadvantage retail investors.

Payments & Settlements

RBI to Make NEFT System Available 24×7

By Editors | 11/12/2019

From 16 December, the NEFT system will be available on a 24/7 basis, including on holidays with batch settlement every half hour.

Trading & Investment

RBI Relaxes Restriction on Foreign Exchange Hedging

By Editors | 10/12/2019

Residents and non-residents will be allowed to undertake OTC currency derivative transactions up to $10mn without having to evidence underlying exposure.

AI Risk & Governance

Beijing to Pilot Fintech Regulatory Framework

By Editors | 09/12/2019

The pilot will allow the PBOC to explore regulatory tools that it can use as part of a nationwide supervisory framework for fintech.

Alternative Markets

SEBI Proposes Mandatory Benchmarking of Alternative Investment Funds

By Editors | 09/12/2019

Alternative investment funds with at least a three-year track record will have to be benchmarked against industry peers and their performance disclosed to investors.

Market Data & Technology

MiFID II Has Not Delivered Lower Market Data Costs: ESMA

By Editors | 09/12/2019

ESMA is calling for a real-time consolidated tape for equity instruments to improve transparency and remedy the fragmentation in European capital markets.

Structural Regulation

HKEX Reviews Listing Regime for Debt Issues to Professional Investors

By Editors | 09/12/2019

HKEX wants to raise the minimum net asset requirement for issuers from HK$100mn to HK$1bn, and to introduce a minimum debt issuance size of HK$100mn, among other proposals.

Payments & Settlements

Japan Probes Barriers Preventing Fintechs Access to Zengin System

By Editors | 09/12/2019

Japan’s antitrust agency is looking into how banks decide fees for using the national interbank funds transfer system and whether they present an entry barrier for fintechs.