Capital / Liquidity

UPDATED – New Zealand to Introduce Bank Deposit Protection Regime

26/06/2019

The government is proposing a limit between NZD 30,000 and 50,000 for the deposit protection regime, which covers about 90% of individual bank deposits.

AML / KYC

US Court Finds Chinese Banks in Contempt in Sanctions Probe

26/06/2019

A US district court has reportedly found three Chinese state-owned banks in contempt for failing to comply with requests for evidence related to a North Korea sanction probe.

Capital / Liquidity

Benefits of Stronger Capital Exceed Potential Output Costs

26/06/2019

The FSB and BCBS have issued reports assessing the net economic impact of stronger capital and liquidity reforms and the macroeconomic implications of transitioning to full implementation.

Securities / Derivatives

SFC Orders Freezing of More Assets Linked to Manipulation Case

26/06/2019

The SFC has ordered more brokers to stop dealing with and processing assets linked to suspected market manipulation of Ding Yi Feng shares.

Market Infrastructure

APRA Extends Change of Ownership Powers to Super Sector

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.

AML / KYC

Goldman’s Compensation Offer for 1MDB Losses ‘Not Adequate’

25/06/2019

Prime Minister Mahathir Mohamad says Goldman’s $240mn offer to compensate Malaysia for the bank’s role in the 1MDB scandal is not adequate.

Enforcement

RBI Launches Online Platform for Financial Complaints

25/06/2019

The new Complaint Management System allows customers of regulated financial entities in India to lodge complaints against those entities online.

Market Infrastructure

New Zealand Banks Commit to Ending Sales-Linked Incentives

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.

Fintech / Regtech

Regulatory Coordination Needed to Mitigate BigTech Risks: BIS

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.