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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Structural Regulation
RBI Issues Guidelines for Financial Benchmark Administrators
By Editors | 27/06/2019
Existing financial benchmark administrators will be notified if their benchmark is considered a “significant benchmark”. They will then have three months to apply for RBI authorisation.
Trading & Investment
CSRC Allows Funds to Engage in Securities Lending
By Editors | 27/06/2019
Certain funds can lend stocks to the state-owned China Securities Finance Corp, which can then lend to brokers, who facilitate investor short selling.
Structural Regulation
CFTC Clarifies How Foreign Broker Exemptive Relief Can Be Terminated
By Editors | 27/06/2019
The CFTC has the right to terminate the exemptive relief granted to foreign brokers, but current regulations do not provide a specific course of action if exemptive relief no longer warranted.
Conduct, Culture & Accountability
ASIC Consults on Use of New Product Intervention Power
By Editors | 27/06/2019
The draft regulatory guide sets out the scope of ASIC’s new powers, when and how it expects to use the power, and how a product intervention order is made.
Cloud & Infrastructure
GFiN Publishes Report Reflecting on First Year of Work
By Editors | 27/06/2019
The Global Financial Innovation Network has published a report reflecting on its work over the past year, and its ambitions for the future.
Structural Regulation
APRA Extends Change of Ownership Powers to Super Sector
By Editors | 26/06/2019
From 5 July, any party seeking to acquire more than a 15% stake in a superannuation licensee will be subject to must apply to APRA first for approval.
Conduct, Culture & Accountability
RBI Launches Online Platform for Financial Complaints
By Editors | 25/06/2019
The new Complaint Management System allows customers of regulated financial entities in India to lodge complaints against those entities online.
Conduct, Culture & Accountability
New Zealand Banks Commit to Ending Sales-Linked Incentives
By Editors | 25/06/2019
FMA chief executive Rob Everett and RBNZ governor Adrian Orr have confirmed that all banks have committed to removing sales incentives for frontline staff and their managers.
Data Privacy
Regulatory Coordination Needed to Mitigate BigTech Risks: BIS
By Editors | 25/06/2019
An element of risk is BigTechs’ access to data from existing social media, search engines and ecommerce platforms, which raises competition and data privacy issues.
Structural Regulation
New Zealand to Introduce Licensing Regime for Financial Advisers
By Editors | 24/06/2019
The new regime will require all New Zealand financial advisers to be licensed by the FMA, effective from June 2020.
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