Market Infrastructure

Fintech / Regtech

Australia: Consumer Data Right Legislation Could Delay Open Banking

By Editors | 05/07/2019

The Consumer Data Right Bill is needed for banks to be able to transfer their customers’ personal data to another institution, a cornerstone of the open banking initiative.

Market Infrastructure

CBIRC Green-Lights Three City Commercial Banks’ WMP Units

By Editors | 05/07/2019

Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.

Market Infrastructure

RBI to Review Framework for Core Investment Firms

By Editors | 04/07/2019

Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.

Market Infrastructure

ASIC Proposes Licensing Relief for Foreign Funds Managers

By Editors | 04/07/2019

ASIC proposes to exempt foreign fund management providers from the requirement to hold an AFS licence to provide services to professional investors in Australia.

Market Infrastructure

G-SIBs Making Steady, Significant Progress on TLAC: FSB

By Editors | 04/07/2019

The FSB says further efforts are needed to ensure that TLAC will be available in the right amounts at all locations within a group during a crisis.

Fintech / Regtech

Singapore Digital Banks to Disrupt Smaller Incumbents the Most

By Editors | 04/07/2019

Singapore’s big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody’s Investors Service.

Enforcement

SFC Gains Access to Mainland Audit Papers for Investigations

By Editors | 04/07/2019

The MOF and CSRC agree to provide the “fullest assistance” in response to SFC requests for investigative assistance regarding the provision of audit working papers.

Market Infrastructure

BOJ Publishes Consultation on JPY Interest Rate Benchmarks

By Editors | 03/07/2019

The consultation paper presents and evaluates five options that can be used as alternative benchmarks upon transition and as fallback replacement benchmarks.

Market Infrastructure

Australian Payments Council Releases New Strategic Agenda

By Editors | 03/07/2019

The strategic agenda sets out five areas that will guide the APC’s work to ensure the payments system remains resilient, efficient, accessible, and adaptable.