2020年第一季度 亚太地区金融服务监管政策更新

Asia Pacific Financial Services Regulatory UpdatesApril 2020Q1 2020IntroductionAustraliaChina mainlandHong Kong SARIndiaIndonesiaJapanMalaysiaSingaporeSouth KoreaTaiwanContactNew ZealandAsia Pacific Financial Regulatory Update Q4 20192© 2020. For information, contact Deloitte Advisory (Hong Kong) LimitedIntroductionDear clients and colleagues,The Deloitte Asia Pacific Centre for Regulatory Strategy is pleased toshare with you the key regulatory updates from around our regionfrom Q1 2020.The most impactful event this past quarter has of course been thespread of COVID-19 and the fall-out from the now global pandemic. Itis therefore very natural that there has been a significant breakbetween business as usual regulatory activities pre-COVID and post-COVID. This is particularly relevant for our own region, given that theimpacts from COVID-19 were felt first here before spilling over to therest of the world. You are able to see this abrupt break in each of thejurisdictions – while there are still some business as usual updates, themajority of regulatory activity this quarter is tied to COVID-19.In light of this, both regulators and financial institutions have beenmaking tough decisions about how to prioritise limited time in avolatile market. In the coming months financial institutions will need tofocus on:•Capital and liquidity stresses•Operational resilience•Risk and controls•Supporting society through the economic disruptionMany planned initiatives and deadlines both locally and globally havealso been deferred. For example, the Bank of International Settlementshas announced a delay which pushes back Basel III implementationdeadlines to 2023. Other programmes are still very much on-track, butwith an eye to how the situation will develop. An excellent example ofthis is the UK’s Financial Conduct Authority has announcement that theend of 2021 remains the target for the discontinuation of LIBOR,though interim deadlines that may be impacted by the virus.We can see these trends closer to home where the bulk of regulatoryattention has been focused on ensuring financial stability. In thisvein, many jurisdictions have madeadjustments to prudentialstandards or supervisory approaches, while there are still somekey areas of focus that remain on-trend like data and technology.For example, both Singapore and Malaysia released updates ondigital banks, Hong Kong SAR looked at algorithmic trading,while Indonesia and South Korea released financial technologystrategies.While therearechangesto regulatorypriorities,theabilitytorespond at short notice to supervisory requests will be key – forexample, being able to deploy tactical scenario testing at short noticeand having a well-developed set ofearly warning indicators isimperative. As well, regulators and wider society will be watching andwondering whether financial institutions can show their value as asocial utility.In light of this, the Deloitte Asia Pacific Centre for RegulatoryStrategy has been tracking COVID-19 d