The Singapore Monetary Authority (MAS) said it is thinking of allowing foreign banks with a significant local presence to open digital-only banking units.
Asia-Pacific
Ryozo Himino appointed to lead Japan’s FSA
Ryozo Himino took over from Toshihide Endo as commissioner of Japan’s Financial Services Agency (FSA) and will focus on keeping the country’s financial regulatory frameworks in line with global rules.
HKMA sets out Libor transition timetable for banks
On July 31, the Hong Kong Monetary Authority (HKMA) announced its London interbank offered rate (Libor) transition milestones to alternative reference rates (ARRs) for financial institutions operating in the territory.
APRA gives green light for banks and insurers to resume dividend payments
Banks and insurers can resume dividend payments to shareholders provided payouts are limited to 50% of profits, the Australian Prudential Regulation Authority (APRA) said on July 29.
China cracking down on market abuse by listed companies
China is taking a zero-tolerance stance towards financial fraud, insider trading and market manipulation, warned Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC) at a national investor protection day event.
Ashley Alder to lead SFC for three more years from September
Ashley Alder, the CEO of the Securities and Futures Commission (SFC), who was due to step down in September, will stay in charge for another three years, according to the Hong Kong government.
Diverging approaches to IFRS 9 loan provisioning raise APAC fragmentation fears
Although there are common themes among approaches, Asia-Pacific regulators have been pursuing their own measures for how banks should provision for bad loans under IFRS 9, raising fears of further fragmentation. By Victor Smart
Hong Kong’s financial hub status in question after US comments
Threats from the US to end Hong Kong’s special trading status pose a potential long-term threat to the city’s role as a global financial centre. By Justin Pugsley.
SFC takes action to ensure continued integrity of Hong Kong’s markets
Following extreme bouts of market volatility, the Hong Kong Securities and Futures Commission (SFC) said it is pursuing a flexible approach so that markets continue to function properly, while safeguarding market integrity and investor protection.
Surge in ESG initiatives threatens transition to sustainable economy
An explosion in ESG initiatives across the world is threatening the very goal they are trying to achieve, namely the move towards a more sustainable economy
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