Hong Kong’s huge success in attracting IPOs masks the fact that its stock market is still plagued with conduct issues and it is likely that there are several more years of regulatory reforms to come
Asia-Pacific
China seeks compliance with EU rules as it internationalises its benchmarks
As part of making their benchmarks internationally usable by regulated financial firms, Chinese providers are increasingly looking to comply with the EU benchmarks regulation as a stamp of approval
China further opens banking market to foreign players
Measures have been put in place that remove total asset requirements for foreign banks establishing operations in China by the country’s banking regulator, which is also lowering rules around foreign shareholdings in joint venture lenders.
Trade war threatens pace of China’s regulatory reforms
In the last few years, China has embarked on a concerted effort to curb the excesses of its shadow banking system, but the trade war with the US may slow or even threaten those aims.
SFC CEO Ashley Alder to step down next year
The internationally highly regarded CEO of Hong Kong’s Securities and Futures Commission (SFC), Ashley Alder, will not renew his contract when it ends in September 2020, according to media reports.
China to remove limits on foreign ownership of some financial firms from January
The China Securities Regulatory Commission (CSRC) said that limits on foreign ownership of futures, securities and mutual fund companies will go from January 1, 2020.
The real promise of regtech is financial stability
The big prize promised by regtech is to provide genuine financial stability where looming risks can be detected and managed in real-time by regulators and firms before they ever develop into a full blown crisis
Australia’s relatively conservative bank reforms already facing some resistance
Australia’s recent banking scandals, very much rooted in conduct issues, triggered a series of fairly conservative regulatory reforms, but even these are facing some industry push back
Australian banking scandal gives regtech a big boost
Australia’s recent spate of banking scandals has given its regtech sector a major boost as banks rush to find solutions that will ensure they treat their customers better in the future
Open API initiative progressing in Hong Kong
The open Application Programming Interface (API) framework is progressing towards the next phase, said the Hong Kong Monetary Authority (HKMA), with 20 retail banks participating.
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