“The new arrangements will lead to smoother operations in areas such as information exchange, regulatory cooperation and ultimately the authorisation of funds,” said ZEDRA Hong Kong Managing Director, John Ashwood.
This new initiative follows Italy, which enacted in early February 2019 a set of rules establishing an overarching legal foundation for the validity and enforceability of distributed ledger technologies and smart contracts.
Church Commissioners, the organisation that manages the assets of the Church of England, has a huge pay gap between its highest and lowest-earning employees, according to its latest annual report.
The GDPR implications for the financial services sector were undoubtedly significant, and the move towards digitisation and open banking has compounded an already complicated privacy landscape in an industry where trust is crucial.
The trades are designed to cancel each other out, so the investors are in the same position as when they started, except that the brokers charge the clients a fee for carrying out the trades, which are typically not needed by the client.
Felix Hufeld, president of Germany’s BaFin banking watchdog, said banks will have a 12-month timeframe to implement the countercyclical capital buffer, starting from July 1.