Prudential Risk

Market Risk

S. Korea Announces Adjusted Schedule for Initial Margin Rules

By Editors | 09/08/2019

Korea has adjusted its domestic implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.

Operational Risk

APRA Fines Westpac A$1.5mn for Late EFS Reporting

By Editors | 09/08/2019

Westpac and two of its subsidiaries were late in filing monthly and quarterly reports for APRA’s Economic and Financial Statistics programme.

Clearing & Post-Trade

SHCH Issues Draft Guidance on Clearing Member Default Management

By Editors | 08/08/2019

In the event of a default, Shanghai Clearing House can initiate rapid disposal of non-cash collateral, demand the disposal of a clearing member’s other assets, or perform a forced liquidation, among other measures.

Liquidity Risk

LIBOR Transition Presents Opportunity to Gain Market Share

By Matthieu Sachot | 08/08/2019

Financial institutions should be treating the LIBOR transition as an opportunity to strengthen client relationships and win market share, says Matthieu Sachot at Chappuis Halder & Co.

Clearing & Post-Trade

ASX Finalises Updated Guidance for Clearing, Settlement Participants

By Editors | 08/08/2019

ASX has finalised its updated guidance for clearing and settlement participants on their business continuity, disaster recovery and cyber resilience arrangements.

Structural Regulation

Cayman ‘Economic Substance’ Rule Hits Hong Kong Hedge Funds

By Editors | 06/08/2019

The new rule requires investment managers to demonstrate ‘economic substance’ in Cayman to continue operating by setting up offices, moving teams over or outsourcing activities to local firms.

Cloud & Infrastructure

ABS Updates Guidance on Cloud Outsourcing Arrangements

By Manesh Samtani | 05/08/2019

The updated guide offers best practices to ensure resiliency and recoverability while maximising the benefits FIs derive from cloud outsourcing arrangements, including for ‘critical systems’.

Conduct, Culture & Accountability

Australia: NAB, EY Under Fire Following Whistleblower Leak

By Editors | 05/08/2019

A whistleblower has leaked internal NAB documents to highlight the bank’s lax approach to risk management, customer remediation, and conflicts of interest with its auditor.

Structural Regulation

IOSCO Urges Market Participants to Move to RFRs ‘Now’

By Editors | 02/08/2019

IOSCO says early transition to risk free rates will help to mitigate potential financial stability and conduct risks associated with the transition away from LIBOR.