11/20/2018
Japan and France sign fintech pact
These cooperation frameworks also include referral mechanisms for financial innovators which will therefore facilitate their entry into French or Japanese markets.
Legal, Regulation & Compliance
11/20/2018
IOSCO members found mostly compliant with Principles for Commodity Derivatives Markets
The survey provided an opportunity for IOSCO members to self-audit their current regulatory practices
11/20/2018
UBS Securities pays $120,000 infringement notice
UBS purchased approximately 18 million securities over a 7-month period in relation to the buy-backs in circumstances where UBS purchased the securities other than by the matching of orders on an order book. UBS reported the transactions to ASX as ‘
11/20/2018
Governor of Thai Central Banks Says National Digital Currency for General Population Not Coming Anytime Soon
The Governor reportedly made the comments in response to IMF Managing Director Christine Lagarde’s call last week advising fellow central bankers attending the Singapore Fintech Festival to seriously consider whether digital cash will be the next ev
11/19/2018
The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments
The report examines existing challenges and considers alternative models that could in time result in improvements in speed, cost and transparency for users.
11/19/2018
Deloitte issues call for common sukuk practices
Inconsistent laws and practices were highlighted in a dispute between UAE-based Dana Gas and its bondholders over the repayment of a $700 million sukuk and whether it still complied with Sharia law.
11/19/2018
Baker in largest non-life insurance acquisition
The transaction will enable Tokio Marine Nichido to become the second-largest motor insurance company and third-largest property and casualty insurance company in Thailand.
11/19/2018
Hong Kong SFC commences thematic review of risk governance and oversight frameworks, including assessment of risk management MICs
The review comprises three work streams focusing on the underlying risks of LCs’ remote booking models, operational risk and data risk.
11/19/2018
Super fund apologises for admin error
The fund has individually contacted most of the 100 members whose balances were higher than they should have been to personally address their circumstances, and a few members' current contact details are being located
11/19/2018
Bank of China Manila, Equicom Group explore possible cooperation, collaboration
The signing ceremony was held on Friday at the office of Bank of China Manila.
11/19/2018
HKICPA Orders Deloitte and an Accountant to Pay Fines
According to Hong Kong-based activist investor David Webb, the listed company is China Bio Cassava, now known as Cloud Investment Holdings Limited (8129).
11/18/2018
Bank bosses to face the music at inquiry
Bank bosses and head regulators will be questioned about policy matters at the financial services royal commission's final hearing.
11/16/2018
Frydenberg splashes $50m to pursue financial services crime
The CDPP is set to benefit most from the Treasurer's latest move in strengthening the action against misconduct in financial services, with $41.6 million to flow into its coffers over the next eight years.
11/16/2018
AFCA creates small businesses ombudsman role
"This change means that AFCA is now able to consider complaints from over 98% of small businesses."
11/16/2018
Philippines Enhances Fair Value Pricing of Financial Instruments
The new guidelines tweak rules on marking to market to align with international standards, promote transparency and confidence in the markets, and encourage active market trading.
11/16/2018
Norwich Pharmacal relief and the Confidential Information Disclosure Law, 2016
The judgment also provides welcomed guidance on the relevance of the Confidential Information Disclosure Law
11/16/2018
Australian businesses eager to avoid fintech legal risks, Baker McKenzie finds
The study found that the sector is more confident now in the transformative powers of AI than in 2016, Baker McKenzie said.
11/15/2018
Traydstream’s paperless trade solution to go live with Asian bank
Having closed its pre-series-A financing round, Traydstream is set to release new features and “grow exponentially” over the next few years, the firm’s CEO Sameer Sehgal tells GTR.
11/15/2018
More foreign AMs get onshore licences
Hong Kong-based Zeal Asset Management and New York-headquartered Two Sigma Investments have obtained IM WFOE licences.
11/15/2018
Regulators say they will muscle up against banks after royal commission highlights failings
A lot of APRA focus over recent years has been on making sure entities are solvent, have the right liquidity," he told a lunch hosted by financial services industry body FINSIA.