There is a great deal of debate about how to facilitate behavioural change within banks. One way could be to have regulators on site, as ASIC is planning to do in Australia following a spate of banking scandals. But is it the right approach? By Lisa Andersson, head of research at Aktis.
Asia-Pacific
PBoC cuts bank reserve ratio by 1%
PBoC cuts reserve requirements by 1% for banks to help sustain domestic economy and to ensure sufficient liquidity for the Chinese New Year celebrations.
Hong Kong’s virtual banking licence could draw in China’s tech giants
The Hong Kong Monetary Authority's new virtual banking licence could prove to be a significant stimulant to competition in its banking market – but there are concerns that some regulatory demands are too steep. Dan Barnes reports.
APRA reconsidering regulatory approach following Royal Commission’s findings
Following findings from Australia’s Financial Services Royal Commission, APRA is likely to review its regulatory approach and focus much more on conduct issues
SFC makes it easier for public whistleblowers to report misconduct
Hong Kong public encouraged by the SFC to report on suspected cases of market abuse as the regulator seeks to further curb activities such as insider trading and share price manipulation
S&P warns over default risks associated with China local government debt vehicles
Credit rating agencies have been warning over risks associated with local government debt vehicles in China, which could trigger a wave of company defaults should they run into trouble
Asia struggling to meet EU benchmarks regulation deadline
Asian benchmark administrators are increasingly concerned that EU supervised firms may become cut off from Asian markets as non-EU administrators struggle to register their benchmarks
FSA holds event to promote Japan’s fintech sector
Japan’s Financial Services Agency (FSA) teamed up with Japan Nikkei to hold an event in Tokyo to explore themes around fintech
ASIC lambasts banks over “unacceptable” reporting delays
ASIC ramps up rhetoric against large Australian banks for being too slow at identifying, reporting and rectifying significant breaches and is also considering enforcement actions against them
Simpler rules might be more effective in stamping out misconduct within Australian banks
More rules and laws may not be the best response to stamping out misconduct within Australian banks, but instead a simplification and better regulatory oversight might be more effective, says royal commissioner
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