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Market Infrastructure
SFC to Assess Licensed Firms for FRTB Adoption Readiness
By Manesh Samtani | 06/08/2018
Pending an update from the Basel Committee on FRTB, the SFC will assess the readiness of LCs to adopt the internal models approach for market risk based on the Basel II.5 framework.
Fintech / Regtech
China’s Ant Financial and WeBank – ‘Too Big to Regulate’
By Peter Guy | 02/08/2018
The Chinese government has allowed unregulated online participants to innovate and grow in a sector traditionally dominated by state banks. Systemic risk has increased by not imposing strict and comprehensive regulatory regimes.
Market Infrastructure
Thailand Banks Hit by Cyber Attack Resulting in Data Leak
By Garima Chitkara | 02/08/2018
Hackers have stolen non-financial data of over 120,000 customers from Kasikornbank and Krungthai Bank in the first such data leak in the Thai banking sector.
Market Infrastructure
IOSCO Issues Recommendations on Managing Extreme Volatility
By Editors | 02/08/2018
IOSCO believes volatility control mechanisms support the goal of ensuring markets are fair, efficient and transparent, thereby increasing market integrity and investor confidence.
Market Infrastructure
PBOC Announces Licence Application by Foreign Payment Firm
By Editors | 02/08/2018
World First Asia subsidiary Yuefan Business Consulting would become the first foreign-funded third-party payment institution in China if its licence is approved.
Enforcement
PBOC Penalises Shanghai-based Payment Firms
By Manesh Samtani | 02/08/2018
Kayou Payment Services and Free Me Pay were ordered to exit merchant acquisition business and to pay penalties totaling $5mn for violating payment and settlement rules.
Market Infrastructure
China Issues New Rules for Foreign Financial Networks, Information Services
By Emma Zhou | 01/08/2018
New regulations require overseas financial network and information services providers such as SWIFT to submit written reports to the PBOC.
Market Infrastructure
Thailand to Offer Fee-Free ‘Basic’ Banking
By Garima Chitkara | 01/08/2018
Thailand’s banks will offer basic accounts that exempt senior citizens and welfare recipients from entry fees, annual charges and minimum deposit requirements.
Market Infrastructure
LIBOR Transition Programmes Should Mobilise Immediately – Report
By Manesh Samtani | 01/08/2018
New report by Oliver Wyman says firms should start developing new non-LIBOR products and managing down LIBOR exposures; those that do not act quickly in anticipation of the transition will increase risks and costs.
Market Infrastructure
Hong Kong’s Revised OFC Regime Goes Into Effect
By Garima Chitkara | 30/07/2018
Hong Kong’s new open-ended fund regime that will allow OFCs to be set up as corporates takes effect on 30 July.
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