MARKET INFRASTRUCTURE

Market Infrastructure

S. Korea Banks Respond to Hiring Scandals with New Recruitment Standards

By Manesh Samtani | 18/05/2018

Korea Federation of Banks has submitted a draft proposal to the FSC which includes written exams for candidates, document screening by external agencies and blind interview processes.

Market Infrastructure

China Gives the CBIRC Exclusive Supervision Over Leasing Industry

By Garima Chitkara | 17/05/2018

Leasing companies will no longer come under the Ministry of Commerce and will be supervised by the CBIRC, in a move to streamline regulation of the leasing industry and ensure consistent application of regulatory norms.

Market Infrastructure

Hong Kong SFC Releases Further Details on Licensing Regime

By Garima Chitkara | 17/05/2018

SFC bulletin highlights areas of concern the regulator considers in granting and rejecting licenses as well as updates to MIC regime; SFC also announced a forthcoming thematic review of MIC regime compliance.

Market Infrastructure

BSE Receives US SEC “Designated Offshore Securities Market” Status

By Garima Chitkara | 17/05/2018

Designation will allow Indian exchange BSE to sell securities to US investors without needing to register them with the US SEC.

Securities / Derivatives

ASIFMA: China’s Reforms Target Increased Foreign Participation

By Manesh Samtani | 17/05/2018

Beijing-based panellist emphasised the rule of law, clear and transparent regulation and increased competition from foreign intermediaries as key to China’s opening up.

Market Infrastructure

ASIFMA: HK Financial Secretary Lauds China as Global Standards Setter

By JP Reimann | 17/05/2018

James Lau said China is becoming a pioneer in setting global standards with an “open and supportive regulatory environment”; HK a “premier listing platform” for mainland enterprises.

Market Infrastructure

Shanghai to Allow Foreign Banks to Set Up Branches, Subsidiaries

By Garima Chitkara | 16/05/2018

China will allow foreign banks to set up branches and subsidiaries in Shanghai amid a host of measures to further open up the city’s financial sector.

Capital / Liquidity

When FRTB Meets the Real World

By Peter Guy | 14/05/2018

The Fundamental Review of the Trading Book was supposed to redefine how banks collectively manage risks. Yet, risk can still be a ‘ghost in the machine’.

AML / KYC

CPMI Releases Strategy for Reducing Wholesale Payments Fraud

By JP Reimann | 09/05/2018

Central banks urge stakeholders to pursue adoption of common strategy to improve security of wholesale payments; will monitor progress to determine the need for further action.