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Risk Management News Updates, January 30th 2013
This week’s risk management news include HKMA’s new executive director appointment, confirmation of FSA UK’s FSCS funding rules and SEBI’s request for banks and NBFCs to separate investment advisory services.

January 30, 2013 | The Asian Banker Editor

Henry Cheng appointed HKMA executive director
Nelson Man, banking supervision executive director at Hong Kong Monetary Authority (HKMA), will retire in April 2013, and be replaced by Henry Cheng, currently head of HKMA’s Financial Stability Surveillance division.

FSA UK confirms FSCS funding rules
Financial Services Authority UK has confirmed new guidelines designed to provide funding for the Financial Services Compensation Scheme (FSCS) in a way which is affordable for firms. The regulator also proposed setting up a ‘Retail Pool’, a collective resource funded by intermediaries and investment providers which would be triggered if one or more of the funding classes reached their threshold.

Banks and NBFCs asked to separate investment advisory services
Securities and Exchange Board of India (SEBI) has ordered banks, non-banking financial companies and corporates to separate their investment advisory services from other financial activities. Additionally, those who wish to provide investment advisory services will now be required to obtain official registration certificates from SEBI.

 

Re-disseminated by The Asian Banker

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Categories: Risk And Regulation Working Group
Keywords: HKMA, FSA UK, SEBI