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
Asia-Pacific
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
Japan’s FSA undertakes reorganisation to improve efficiency
Japan’s FSA has reorganised some of its bureaus so it can adapt to changing markets and technological developments and monitor them more efficiently
Singapore resolution regime maintains narrow scope of bail-in instruments
Following a recent consultation, Singapore’s regulators are in the process of putting in the finishing touches to their bank resolution regime, and while it follows international guidelines closely, it does make one important deviation. By Justin Pugsley.
China crackdown on fintech firms hits float plans
Chinese fintech firms delay IPO plans as local regulators intensify crackdown on the non-banking financial sector
Hong Kong to make LEIs mandatory from April 1, 2019
Hong Kong’s regulators are to apply most of the steps they outlined in an earlier consultation, such as mandating the use of legal entity identifiers and implementing a clearing obligation for standardised Australian dollar swaps
China winning battle against financial risks
China’s regulators appear to be winning their multi-year battle to curb risks to their financial system, according to a leading credit rating agency.
China opens up financial services to foreign investors
China moves to liberalise key sectors of its economy, such as financial services, to foreign investors to try and help ease global trade tensions.
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