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Enforcement
US SEC Opens Preliminary Investigation into Archegos Collapse
By Manesh Samtani | 06/04/2021
Credit Suisse expects a $4.7bn loss from the collapse of Archegos. The bank has suspended share buybacks, cut its dividend, and announced the departure of seven key executives.
Fintech / Regtech
BOJ Forms Committee to Lead CBDC Testing in April
By Sanday Chongo Kabange | 01/04/2021
The BOJ Liaison and Coordination Committee will share details and provide updates on the PoC with the private sector and the government.
ESG / Sustainability
BOJ, FSA Highlight Ongoing Initiatives to Address Climate Risk
By Manesh Samtani | 31/03/2021
Bank examinations will include assessments of efforts to address climate-related risks, and work is underway to identify possible approaches to climate-related scenario analysis.
Securities / Derivatives
Hedge Fund Collapse Sparks Billions in Losses for Banks
By Manesh Samtani | 30/03/2021
The SEC, FSA, and FINMA are monitoring the situation, after the collapse of Archegos Capital Management left Nomura and Credit Suisse with billions in losses.
Fintech / Regtech
Line Pay to Bring Data Stored Overseas Back to Japan
By Sanday Chongo Kabange | 25/03/2021
Line must submit detailed reports to Japanese authorities explaining how it protects personal data, after employees at a China affiliate were found to have access to user information.
Enforcement
Japan FSA to Inspect Mizuho Over System Failures
By Ranamita Chakraborty | 24/03/2021
The FSA will consider whether to take disciplinary action such as issuing a business improvement order against the bank.
Market Infrastructure
BOJ, FSA Urge FIs to Push Forward LIBOR Transition
By Manesh Samtani | 09/03/2021
The regulators say the transition must continue without reliance on a potential synthetic JPY LIBOR, which would be restricted to tough legacy contracts even if published.
Securities / Derivatives
OSE, TOCOM Propose Revised Contingency Plans for Derivatives
By Sanday Chongo Kabange | 09/03/2021
The OSE and TOCOM have proposed revisions clarifying the standards by which they will halt and resume trading in the event of a disruption in the derivatives market.
Capital / Liquidity
Japan, EU Boost Cooperation on Insurance Supervision
By Ranamita Chakraborty | 06/03/2021
EIOPA will provide the FSA advice on an equivalence decision under the EU’s Solvency II framework and, later, the monitoring of this decision.
Market Infrastructure
Japan Close to Decision on Lower Interbank Transfer Fees
By Editors | 06/03/2021
Interbank transfer fees have remained the same for over 40 years. A reduction in interbank EFT fees may be implemented as soon as October.
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