The FSP list includes entities that belong to G-SIB or large dealer groups; and are members of the largest CCPs offering clearing for interest rate swaps in the US, Europe, Japan and Hong Kong.
The bank plays an important role in ensuring financial institutions remain sound and operate with appropriate conduct and culture, and we have a low-risk appetite for events that materially damage the financial system.
“We believe that the impact is much greater than was appreciated when the bill was drafted, and we have therefore recommended that the Government consider a deferral of the commencement of this new regime,”
The fine underscores the challenges ahead for companies, including global firms with operations in China, mainly in a tech sector that thrived during years of relatively laissez-faire market regulation.
Infrastructure Asia, a project facilitation office under the Singapore government, aims to tap into the capabilities of its private partners to meet the region’s infrastructure needs.