Market Infrastructure

Capital / Liquidity

Japan Opposes LCR for US Branches of Foreign Banks

By Manesh Samtani | 26/06/2019

The BOJ, FSA and JBA say standardised liquidity requirements for US branches of foreign banking organisations will promote market fragmentation and create global risks.

Market Infrastructure

New Zealand Banks Commit to Ending Sales-Linked Incentives

By Editors | 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

By Editors | 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.

Market Infrastructure

Bangladesh: Three Private Banks Hit by Cyber Attacks

By Editors | 25/06/2019

Hackers stole $3m from Dutch-Bangla Bank using cloned credit cards and cash machines in Cyprus, Russia and Ukraine.

Big Picture

Buy-Side to Provide Stability in Bond Market Stress: IOSCO

By Manesh Samtani | 24/06/2019

Intermediaries and banks are less likely to provide liquidity during times of stress because of post-crisis changes in regulation and risk appetite.

Market Infrastructure

New Zealand to Introduce Licensing Regime for Financial Advisers

By Editors | 24/06/2019

The new regime will require all New Zealand financial advisers to be licensed by the FMA, effective from June 2020.

Market Infrastructure

ASIFMA Standardises Underwriter Documentation for Hong Kong IPOs

By Manesh Samtani | 24/06/2019

The initiative will promote efficiency and reduce costs and legal risks by offering standardised forms for agreements among underwriters and between underwriting syndicates.

Enforcement

Hong Kong SFC Releases 2018-19 Annual Report

By Editors | 24/06/2019

The SFC is working to introduce an investor identification regime for southbound Stock Connect trading in mid-2019, and considering adopting a market-wide circuit breaker mechanism.

Market Infrastructure

Mirae Asset Daewoo to Launch Payments Business

By Editors | 21/06/2019

The FSC lifted restrictions barring brokerage firms from entering the payments business last December. WeChat Pay will be used in Mirae Asset Daewoo’s new payment gateway.