Capital / Liquidity

APRA Proposes Stricter Credit Risk Management Standards

26/03/2019

The revised prudential standard enhances board oversight of credit risk and requires more intensive credit checks on borrowers. APRA also highlights the risks of P2P originated loans.

Market Infrastructure

Data Localisation Policies Impair Provision of Financial Services – GFMA

25/03/2019

The GFMA urges policymakers to develop alternatives to data localisation policies that ensure data protection while still supporting the financial services sector and the end-users it serves.

Enforcement

ASIC, APRA, Courts to Get More Funding to Pursue Misconduct

25/03/2019

In the 2019-2020 budget, Australia’s government will provide more than A$585mn in new funding to regulators and the court system to help stamp out financial sector misconduct.

Fintech / Regtech

GFMA, PwC Identify Technology Challenges for Investment Banks

22/03/2019

A new report from the GFMA and PwC says third-party providers could pose a challenge to banks’ core offerings if banks are not keeping pace with innovation.

AML / KYC

MAS Details Enforcement Outcomes, Priorities in Inaugural Report

20/03/2019

The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.

Market Infrastructure

ASIFMA Paper Offers Policy Suggestions on Improving China Market Access

20/03/2019

A new ASIFMA paper provides policy recommendations for making China’s capital markets easier to access and more attractive to foreign institutional investors.

Enforcement

Singapore Court Rules in First Case Involving Cryptocurrency

19/03/2019

The Singapore International Commercial Court has ruled that crypto exchange Quoine was liable for a “breach of contract and breach of trust” by reversing seven trades in April 2017.

Enforcement

SFC Fines UBS and Others HK$787mn for IPO Sponsor Failures

15/03/2019

“The sanctions send a strong and clear message to the market that we will not hesitate to hold errant sponsors accountable for their misconduct,” said SFC chief Ashley Alder.

Capital / Liquidity

British Banks Can Weather a No-Deal Brexit

13/03/2019

While UK banks may not be fully ready to conduct business in EU jurisdictions, from a liquidity and capital point of view they appear well-positioned to weather a no-deal Brexit scenario.