Regulation Asia’s Post

Some Hong Kong #digitalbanks including WeLab Bank, ZA Bank, and Mox Bank are reportedly exploring setting up physical branches. Hong Kong Monetary Authority (HKMA) https://lnkd.in/g3QrQ9k6

The Hong Kong Monetary Authority (HKMA) has issued a “soft consultation” to the banking industry seeking input on the implementation of the prudential treatment of #cryptoasset exposures held by authorised institutions (AIs). https://lnkd.in/dktEVPfE

Operational resilience has become a critical priority for financial firms, especially in the wake of increasing cybersecurity threats, market disruptions and the stringent global and local regulatory standards e.g. DORA in EU and HKMA's OR-2 guidance. Check out what HKMA OR-2 covers. #operationalresilience #cybersecurity

How will the latest HKMA Operational Resilience-2 (OR-2) guidelines, which extend to third-party service providers, impact financial firms in Hong Kong? From identifying and mitigating risks to ensuring critical operations' delivery, the directives are reshaping the industry and elevating the standards for systems across front to back-office operations. Banks must opt for stable and tech-resilient solutions to meet the requirements by May 2026. Learn more about our trading and connectivity solutions today to strengthen the resilience of your trading operations and navigate emerging risks. http://spklr.io/6046tMEK #OperationalResilience #CapitalMarkets

HKMA Fines China CITIC Bank for Transaction Monitoring Deficiencies The HKMA said 13 out of a total of 33 detection rules and two core model rules had not been implemented as intended. https://lnkd.in/dMCskwKN

FSB Proposes Recommendations to Address Leverage in NBFI - Regulation Asia: Fintech / Regtech · Market Infrastructure · Securities & Trading · Jurisdictions · Asia-Pacific · Australia & NZ · China · Hong Kong · India · Japan ... #regtech #cdo #datagovernance

Report mentioned The Monetary Authority of Singapore set up a group that includes representatives from local and global banks to look into how banks perform checks during account opening and verify sources of funds, with the aim of coming up standards with best practices by the end of the year. This is Singapore authority's response to the influx of foreign wealth after last year’s money laundering case which exposed gaps in the system. #MAS #Singapore #moneylaundering #sourceoffunds SOURCE: https://lnkd.in/g7cAPJEK

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its Final Report providing the assessment of the shortening of the settlement cycle in the European Union (EU). The report highlights that the increased efficiency and resilience of post-trade processes that should be prompted by a move to T+1 would facilitate achieving the objective of further promoting settlement efficiency in the EU, contributing to market integration and to the Savings and Investment Union objectives.  ESMA recommends that the migration to T+1 occurs simultaneously across all relevant instruments and that it is achieved in Q4 2027. Considering the different elements assessed by ESMA, in particular the difficulties linked to the go-live of such a big project in November and December, and the challenges linked to the first Monday of October (just after the end of a quarter), ESMA recommends 11 October 2027 as the optimal date for the transition to T+1 in the EU. Following the publication of this report, ESMA will continue its regulatory work related to the revision of rules on settlement efficiency, and addressing the T+1 governance together with the European Commission (EC) and the European Central Bank (ECB). #T+1 #posttrade #securitiessettlement #financialmarkets #banking #assetmanager #hedgefunds #regulatorychange

To what extent has the proliferation of trading venues increased the complexity and depth of coverage needed by surveillance programmes? Should inter-venue trading manipulation be considered an equal risk to cross-product manipulation? Given recent regulatory focus on this area, is there now a need to review venue assessment, onboarding and ongoing management? Join the debate: Proliferation of Trading Venues: Keeping up with the Increasing Complexities of Trade Surveillance, at the virtual Trade Surveillance Deep Dive on 21 & 22 May to discuss how new technologies can help banks demonstrate comprehensive surveillance and coverage of all venues, and how surveillance functions can ensure that they have a completeness of data across all venues. Featuring: • Rebecca Butler, Head of Group Surveillance, NatWest Group • Alasdair Amos, Global Surveillance Optimisation Lead, Natixis Corporate & Investment Banking • Malcolm Day, Managing Director, Head of Central Trade Surveillance, Bank of America • Colin Telmer, Managing Director, Global Head of Trade Surveillance, Scotiabank 📍 Trade Surveillance Deep Dive 📆 A virtual event | 21 & 22 May 2024 🕐 13.00 - 16.00 BST | 08.00 - 11.00 ET

A major transformation is underway in the EU financial markets! The European Securities and Markets Authority (ESMA) is preparing to implement a T+1 settlement cycle by October 2027. This shift promises to enhance efficiency, resilience, and the EU’s competitiveness in the global financial landscape. Key highlights of the transition: ✅ Streamlined Settlement Operations – Faster and more efficient post-trade processes. ✅ Market Integration – Strengthening the ties across EU markets and supporting the Savings and Investment Union. ✅ Cost Savings – Reducing discrepancies in settlement practices across different jurisdictions. ✅ Risk Reduction – Minimizing settlement-related risks and fostering market stability. Though challenges remain, ESMA is navigating potential obstacles, including necessary regulatory changes and the coordination needed across all market players. The success of this shift will depend on strategic investments in harmonization, modernization, and governance. With strong collaboration between ESMA, the European Commission, and the European Central Bank, the EU is set to embrace this significant change. 📅 Target Date: October 11, 2027 – marking the beginning of a new era in EU financial markets! #T1Settlement #ESMA #FinanceNews #GlobalMarkets #MarketEfficiency #RiskReduction #Finance #EU