Economics

On 29 June 2020, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services. The restriction on activities will lift at 00.01 on 30 June 2020.

Singapore, 8 June 2020… The Monetary Authority of Singapore (MAS) announced today the launch of a S$1.75 million MAS Global FinTech Innovation Challenge. The competition will seek innovative solutions that can help financial institutions respond to two critical global challenges: COVID-19 and climate change.

The Hong Kong Monetary Authority (HKMA) and the banking industry jointly launched the Banking Talent Programme (the Programme) today (4 June 2020) to nurture young talents for the industry, and provide participants with an opportunity to better prepare for future careers in the banking sector.

The Securities and Exchange Commission today announced a nearly $50 million whistleblower award to an individual who provided detailed, firsthand observations of misconduct by a company, which resulted in a successful enforcement action that returned a significant amount of money to harmed investors.

The innovations proposed by the Bank of Russia are aiming to mitigate the risks of market manipulations that may be committed under the guise of maintaining exchange trading parameters. The relevant draft ordinance is available on the Bank of Russia’s website.

The FCA has taken action to stop four Cypriot investment firms from continuing to offer high risk contracts for difference (CFDs) to UK investors.

new indicator of risks and vulnerabilities in the Swedish financial system – the systemic risk indicator – is presented in a new Staff Memo.

SGX and MSCI will retain their partnership on MSCI Singapore Index products and will both work to extend it well beyond 2021; MSCI Singapore futures and options remain listed Licence agreement for all other MSCI products will expire in February 2021 SGX continues to grow a one-stop, multi-asset platform to trade and manage Asian risk comprehensively across equities, fixed income, currencies and commodities

Singapore, 28 May 2020… The Monetary Authority of Singapore (MAS) announced today that the first phase of the Veritas initiative - a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA) - will commence with the development of fairness metrics in credit risk scoring and customer marketing

France and Germany are proposing a €500bn ($545bn; £448bn) European recovery fund to be distributed to EU countries worst affected by Covid-19.