The Hong Kong Institute for Monetary and Financial Research has published a report on Fintech penetration in Hong Kong. Titled “Fintech Adoption and Innovation in the Hong Kong Banking
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Canada: OSFI announces Additional Regulatory Flexibility Measures in response to COVID-19 Pandemic
The Office of the Superintendent of Financial Institutions has announced further regulatory adjustments to support the financial and operational resilience of federal banks during the COVID-19 pandemic. The measures -
COVID-19: Bank of Mauritius clarifies announced moratoriums on loans to borrowers
The Bank of Mauritius has clarified announced moratoriums on loans by commercial banks in the country. Aimed to combat the adverse effects of the COVID-19 pandemic, the moratoriums are -
Czech National Bank launches FinTech contact point
The Czech National Bank (CBN) has established a FinTech contact point. In so doing, the CBN is following the lead of the European Supervisory Authorities, which already have FinTech -
Malta: MFSA addresses ICT risk and cybersecurity
The Malta Financial Services Authority has issued the third volume of ‘The Nature and Art of Financial Supervision’ series, focusing on information and communications technology risk (ICT), and cybersecurity supervision.
October 9, 2019
United States: Agencies finalize changes to simplify Volcker Rule
The U.S. federal financial regulatory agencies have finalized revisions to simplify compliance requirements relating to the “Volcker rule.” By statute, the Volcker rule generally prohibits banking entities from engaging in proprietary trading or investing in or sponsoring hedge funds or private equity funds. Under the revised rule, firms North America
October 9, 2019
FSB publishes UPI governance arrangements
The Financial Stability Board has published a report on the governance arrangements for the globally harmonised Unique Product Identifier (UPI). The UPI will uniquely identify the product involved in over-the-counter (OTC) derivatives transactions reported to trade repositories. This will help authorities to aggregate data on OTC derivatives transactions by Other
October 3, 2019
United States: OCC amends stress testing rule for national banks and federal savings associations
The Office of the Comptroller of the Currency has amended stress testing requirements for national banks and federal savings associations. The amendment, through a final rule, impacts stress testing requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The final rule revises the minimum threshold for North America
October 2, 2019
Qatar: QFC Regulatory Authority consults on corporate governance rules
The QFC Regulatory Authority has published for consultation, draft Governance and Controlled Functions Rules 2019 (Governance Rules). The draft Governance Rules will replace the Governance and Controlled Functions Rules 2012 and the Guide to Corporate Governance for QFC authorized firms. According to the regulator, ‘the draft Governance Rules Asia & South America
October 2, 2019
United States: Federal agencies update management interlock rules
The U.S. bank regulatory agencies have finalized updates to the management interlock rules. Previously, the management interlock rules prohibited a management official working at a depository institution or holding company with more than $2.5 billion in total assets from simultaneously working at an unaffiliated depository organization with more than North America