【德勤】2022年第四季度 亚太地区金融服务监管政策更新

AsiaPacificFinancialServicesRegulatoryUpdateJanuary23roductionIntroductionroductionyandthetransitiontogreenfinancecontinues:EffortstocombatclimatechangehaveacceleratedandintensifiedsincetheParisAgreement.2022wasalandmarkyear,whichsawanunprecedentednumberofcountriesandcorporatespledgingnet-zerocommitmentsintheleaduptoCOP27.Sustainablefinancecanbeapowerfulenablerforaneffectiveyetinclusivetransitiontonet-zero.Financialinstitutionsplayaninfluentialroleinpromotingsustainabilityandcombatingclimatechangebydirectingcapitaltosustainableprojects.Bestpracticesfromsettinguprobustgovernanceframeworksforgreenandsustainableproducts(includingproperduediligence)toworkingwithclientstoreviewtheirclimaterisksanddevelopholistictransitionplanssupportedbygreenfinance.Strengthenedglobalco-operationswillhelpbyaligningregulatorystandardsaswellasimprovingdatacomparabilityandavailability.lIIIFinalReformsBoththeHongKongMonetaryAuthorityHKMA)andMonetaryAuthorityofSingapore(MAS)nnouncedthattheywilldelayimplementationoftheremainingBaselIIIreformstonoearlierthan1January2024togiveinstitutionsmoretimetoprepareThisalsobetteralignstheirimplementationtimelineswiththoseoftheJapan,EU,UKandUS.Incontrast,Australiahaspushedaheadwithimplementationofthemajorityofreformson1January2023.iesormoreinformationontheseupdatesorotherregulatorytopicspleasegetintouch.ardsTheACRSCo-leadsmaryAustraliaChinandonesiaanmaryAustraliaChinandonesiaandlippinesporeKoreaTaiwan(China)ThailandVietnamactssharewithyouthekeyregulatoryupdatesfromourregionforQ2.AyearofglobaluncertaintyWeareenteringwithmanyrtaintiesincludinginflationarypressuresandpotentiallyslowergrowthontheeconomicfront,thenextphaseoftheCOVID-19pandemicasmorecountriesopenupandnewvariantsemergegeopoliticalflashpointsintheregionandbeyondandourabilitytodealwithclimatechange.Whileaddressingthesechallenges,financialregulatoryagenciesacrossAsiaPacificAPcontinuetotakeactivemeasurestopreparetheirfinancialsystemsforthefuture.ncingdigitalassetregulationInthelastquarterkeymarketsacrossAP,includingHongKongSARandSingapore,continuetoreshapedigitalassetnafterglobalcryptofailuresRegulatorybodieshaveseentheliferationofcryptocurrencytradingplatformsandofferingsthathavemadetradingeasilyaccessibletoconsumersandhaveeitherintroducedoraregadditionalconsumerprotectionmeasuresTheseincludeenhanceddisclosurespropersafeguardingofcustomerassets,reservingstandardsandnamingconventionsforstablecoinssoundmoneylaunderingcontrols,aswellasrobusttechnologyandcybersecurityrequirements.Theaimistodevelopesponsibledigitalassetecosystemsthatcontinuetobeinnovativeandthathavethepotentialtotransformfinancialservices.aymentstakealeapforwardNewtechnologybusinessmodelsandparticipantsareprovidingmorepaymentoptionsandincreasedconvenienceforconsumers.Authoritiesrecognisetheregulatoryarchitecturegoverningpaymentsneedstobeupdatedandarepursuingagendascoveringservicessuchasdigitalwallets,buy-now-pay-laterarrangements,stablecoins,andcrypto-assets.Concurrently,centralbankshavelaunchedmoresandboxesfortestingusecasesforcentralbankdigitalcurrencies.Theyarealsoexploringgreatercooperationonpaymentconnectivitytosupportfaster,cheaper,moretransparent,andmoreinclusivecross-bordersmallvaluepaymentswithaprimeexamplebeingthememorandumofunderstandingenteredintoamongstfiveASEANcentralbanksinNovemberinancialServicesRegulatoryUpdateQ2inancialServicesRegulatoryUpdateQ2IntroductionOperational&Conduct5UpdatesData&TechnologyUpdatesSupervisoryApproach9UpdatesyAustraliaChinandonesiaIntroductionOperational&Conduct5UpdatesData&TechnologyUpdatesSupervisoryApproach9UpdatesyAustraliaChinandonesiaandlippinesporeKoreaTaiwan(China)ThailandVietnamactsTaxonomy1.COVID-19Measures2.Governance&Strategic/Reputational4.Operational&ConductRiske6.ConsumerProtectionlogyFinancialProductsInstruments&ServicesFinancialMarketInfrastructureicCurrencyStabilityforcement12.SupervisoryApproachSustainabilityFinancialRiskUpdatesFinancialFinancialProducts,Instruments&ServicesUpdatesClimateClimate&SustainabilityUpdatesimitedinancialServicesRegulatoryUpdateQimitedinancialServicesRegulatoryUpdateQ3IntroductionASICWelcomesIndustryConsultationonMarketResilience maryTheAustralianSecuritiesExchange(ASX)hasreleaseditssecondconsultationpaperinresponsetoIntroductionASICWelcomesIndustryConsultationonMarketResilience maryTheAustralianSecuritiesExchange(ASX)hasreleaseditssecondconsultationpaperinresponsetoASIC’sreportonindustryexpectationsinrespondingtoamarketoutage(Report708).ThepaperfocusedhighlightsthepotentialfutureASXcapabilitiesinenhancemarketresilience,emphasisingtheindustry’sfocusonresiliencyandtheimminentimplementationofnewMarketIntegrityRulesinMarch2023.SubmissionstothepaperclosedearlyDecember2022.ASICwelcomesindustryconsultationonmarketresilienceASXMarketManagementConsultationPaper2Australia ChinandonesiaandlippinesporeKoreaTaiwan(China)ThailandVietnamacts OptionsPaperRegulatingBuyNow,PayLaterinAustralia TheAustralianTreasuryisseekingfeedbackonthefutureregulatoryframeworkforbuynow,paylater(BPNL)arrangementsundertheNationalConsumerCreditProtectionAct2009(theCreditAct).BPNLproductscurrentlyarenotsubjecttoresponsiblelendingstandardsorotherrequirementsoftheCreditAct,andBNPLprovidersarenotrequiredtoholdanAustralianCreditLicence(ACL).Consultationontheoptionspaper,'RegulatingBuyNow,PayLaterinAustralia'seeksviewsonthreebroadoptionsfortheregulatoryfoundationofthefuturegrowthofBPNLinAustraliathatwillprovidetheappropriateregulationwhileencouraginginnovationinthefinancialservicesindustry.StakeholderfeedbackontheoptionspaperwillinformgovernmentdecisiononthefutureregulationofBPNLinAustralia.Theconsultationperiodclosedon23December2022.RegulatingBuyNow,PayLaterOptionsPaperAPRAhasoutlinedamulti-yearprogramtoupliftthedesignoftheregulatoryframeworktoenhanceitsclarity,simplicity,andadaptabilityforitsregulatedentities.Thekeyinitiativesfocusonbetterregulation,adigitalfirstapproach,anddevelopingnewrisks,newrules.InformationPaper:ModernisingthePrudentialArchitectureAPRAReleasesFindingsfromInsuranceRiskSelf-assessmentThematicReviewinancialServicesRegulatoryUpdateQ On26October2022,APRApublishedfindingsfromthereviewintotherobustnessofthegeneralinsuranceindustry'sapproachtoinsuranceriskmanagement.Thereviewrequiredthetenselectedinsurerstocarryoutthefollowing,(i)reviewoftherobustnessoftheirinsuranceriskmanagementframework;(ii)assessmentofthecapacityoftheriskmanagementframeworkinmitigatingsimilarissuesemergingwithinotherproductlines;and(iii)Board-endorsedassuranceovertheself-assessment.Theletterconsolidateskeyinsightsfromthereview,andinlightofthefindings,itisexpectedthatallinsurersconsidertheirownoperationsandpractices.Insuranceriskself-assessmentthematicreview APRAandAPRAandASICReleaseAnnualReportsTheTheAustralianPrudentialRegulationAuthority(APRA)andAustralianSecuritiesandInvestmentsCommission(ASIC)havereleasedtheirannualreportsforFY21/22.Theannualreportsincludesummariesofkeyregulatoryactivities,supervisorythemesandstatementsofperformanceinthecontextoftheircorporateplansforthepastyear.Separately,ASICalsoreleasedtheirenforcementprioritiesfor2023.Theseprioritieswillbeinadditiontotheirenduringpriorities(outlinedintheirCorporatePlan),andareintendedtoreflectwheretheregulatorwilldirecttheirresourcesandexpertiseoverthecomingyear.ASICannualreport2021-22andASICEnforcementPrioritiesfor2023APRAannualreport2021/22APRAOutlinesPlanstoModernisethePrudentialArchitectureAPRAPublishesFirstGuideforBankBoardDirectorsOnOn1August2022,APRAproposedarangeofchangestothePrudentialStandard,SPS515StrategicPlanningandMemberOutcomes,whichrequirestrusteestoevaluatetheirperformanceindeliveringqualityoutcomestomembers.Thestandardaimstobetterensurethecapacityoftrusteesindeliveringbetteroutcomes,increasingboardoversightoffinancialprojections,andensuringtimelyactionistakentoaddressunderperformance.Submissionstothediscussionpaperclosedon11November2022.Discussionpaper-Strategicplanningandmemberoutcomes:ProposedenhancementsAPRAReleasesFinalPrudentialStandardonRecoveryndExitPlanningAPRAhasreleasedthefinalPrudentialStandardRecoveryandExitplanning(CPS190).APRAhasreleasedthefinalPrudentialStandardRecoveryandExitplanning(CPS190).ThenewstandardaimstoensureAPRAregulatedentitiesarebetterpreparedtomanageperiodsofseverefinancialstressandformspartoftherecentprudentialformsthatareaimedatstrengtheningfinancialresilience.Thestandardwillcomeintoeffectfrom1January2024forbanksandinsurers,andfrom1January2025forRSElicensees.LettertoallAPRA-regulatedentities:RecoveryandexitplanningPrudentialStandardCPS190RecoveryandExitPlanning4IntroductionAPRAReleasesResultsofInauguralClimateVulnerabilityAssessment maryAustraliaChinaInNovember2022,APRAreleasedthefindingsofthefirstClimateVulnerabilityAssessment(CVA)ofAustralia’sfivelargestbanks.The2021-22CVAsawtheparticipatingbanksadoptnewtechniques,modellingIntroductionAPRAReleasesResultsofInauguralClimateVulnerabilityAssessment maryAustraliaChinaInNovember2022,APRAreleasedthefindingsofthefirstClimateVulnerabilityAssessment(CVA)ofAustralia’sfivelargestbanks.The2021-22CVAsawtheparticipatingbanksadoptnewtechniques,modellingapproaches,anddatasourcestoassessthepotentialimpactofclimatechangeontheirbusinesses.Thepaperprovidesvaluableinsightsintothepotentialfinancialexposureofinstitutions,thefinancialsystemandthebroadereconomytothephysicalandtransitionrisksassociatedwithclimatechange.InformationPaper:ClimateVulnerabilityAssessmentResultsrategicPlanforthePaymentsSystemConsultationPaper TheAustralianTreasuryhasreleasedaconsultationpapertohelpinformtheGovernment’sStrategicPlanforthePaymentsSystem.ThepaperpromotesthetransitiontoamodernndonesiaandlippinesporeKoreaTaiwan(China)ThailandVietnamactspaymentsinfrastructureandstrengtheningofregulatorstomeetthechallengesofanevolvingpaymentslandscape.Thegovernmentisseekingviewsonappropriateprinciplestosupportthedomesticpaymentssystemandideastosupportreforminitiativesandactions.Submissionsareopenuntil6February2023.Consultationpaper:AStrategicPlanforthePaymentsSystemrnisingAustraliasfinancialsystemnancialServiceseQ On14December2022,theFederalGovernmentreleaseditsprioritiesforfinancialsystemreforminthenewyear.TheGovernmentseekstoupdateandstrengthenAustralia’spaymentssystemthroughaconsultationpapertohelpfinaliseitsStrategicPlan,improveAustralia’sfinancialmarketinfrastructurebyactingonrecommendationsbytheCouncilofFinancialRegulators,establisharegulatoryframeworkforBNPLtoimproveprotectionsforconsumers,andorganisestructuresforthelicensingandregulationofcryptocurrencyserviceproviders.ModernisingAustralia'sfinancialsystem TheAPRAMovesAPRAMovestoStrengthenTransferPlanninginSuperannuationAPRAAPRAhasbegunconsultationsonaseriesofmeasuresthatareexpectedtoenhanceplanningbysuperannuationtrusteesintheeventofmembertransfers.ProposalsoutlinedinthediscussionpaperwerepromptedbyaperiodofheightenedtransferactivityintheindustryandAPRA'sfocusoncombatingunderperformance.APRAhasproposedupdatestotheprudentialframeworkintroducingnewrequirementsandupdatestostrengthenandsimplifytransferplanningguidanceoutlinedinthePrudentialPracticeGuide,SPG227SuccessorFundTransfersandWind-ups.Submissionstotheconsultationareopenuntil10March2023.DiscussionPaper–Superannuationtransferplanning:ProposedenhancementsAPRAReleasesAPRAReleasesDiscussionPaperonFinancialResourcesforRisktsinSuperannuationAPRAAPRAhasproposedchangestohowsuperannuationtrusteesmanagefinancialresourcestobetterprotectfundmembersfrompooroperationalriskeventoutcomes.Asoutlinedinthediscussionpaper,theregulatorislookingtoreplacetheexistingPrudentialStandardSPS114OperationalRiskFinancialRequirementwithenhancedobligationsfortrustees.Theproposedenhancementsareanticipatedtopromotemoreefficientuseoffinancialresources,andwillprompttrusteesinadoptingamoresophisticatedrisk-basedapproachwhendeterminingoperationalriskamounts.Submissionsareopenuntil17March2023.FinancialResourcesfortheRiskEventsinSuperannuationClimate-relatedFinancialDisclosure:ConsultationPaperAustralianAustralianTreasuryhasreleasedaconsultationpapertosupporttheGovernmentinitscommitmenttoensurelargebusinessesprovidestakeholderswithgreatertransparencytowardsitsclimate-relatedplansandrisks.Aspartofthiscommitment,theGovernmentwillintroduceinternationally-alignedreportingrequirementsforbusinessestomakedisclosuresregardinggovernance,strategy,riskmanagement,targetsandmetrics–includinggreenhousegasses.Thisconsultationpaperseeksinitialviewsonthedesignandimplementationofthesestandards.Submissionsareopenuntil17February2023.Consultationpaper:Climate-relatedfinancialdisclosure5ForinformationContactsDeloitteToucheTohmatsuLimited.5IntroductionCUpdatesRulesfortheInsuranceSector maryRulesontheInsuranceSecurityFundOn10November2022,theCBIRC,theMinistryofFinanceandthePeople'sBankofChina(PBC)issuedtherevisedRulesontheInsuranceSecurityFund.IntroductionCUpdatesRulesfortheInsuranceSector maryRulesontheInsuranceSecurityFundOn10November2022,theCBIRC,theMinistryofFinanceandthePeople'sBankofChina(PBC)issuedtherevisedRulesontheInsuranceSecurityFund.Therevisionintendstofosterstableandhigh-qualityinsuranceindustrydevelopment,furtherplayInsuranceSecurityFund'sroleandtoprotectpolicyholders’rightsandinterests.Keyrevisionsare:1.Revisedtheinsurancesecurityfundfundraisingarticles;2.Clarifiedinsurancesecurityfundrelevantfinancialrequirements;3.Optimisedtheuseandmanagementofinsurancesecurityfund;4.Improveinsurancesecurityfund’sbailoutprovisions;and5.Strengthenthesupervisionandadministrationofinsurancesecuritiesfund.TherevisedRulescameintoeffecton12December2022.CBIRCReleasestheRulesontheInsuranceSecurityFundStatisticalRulesonGreenInsuranceBusinessOn11November2022,theCBIRCissuedtheNoticeontheStatisticalRulesonGreenInsuranceBusiness.TheNoticeintendstoleveragethepositiveroleofinsurancetobuildasoundgreen,low-carboncirculareconomicdevelopmentsystemandtransitiontoagreenereconomyandsociety.TheNoticerequiresinsurancecompaniestocollectgreeninsuranceliabilitybusinessstatisticsfromboththeproductandcustomerperspectivesinasystematicmanner.Otherkeyrequirementsincludethefollowing:•Strengthengreeninsurancecapabilitybuilding•Enhancethegreeninsurancebusinessdata•Optimisetheconstructionofinformationsystems•Buildasoundidentificationandmanagementmechanismforgreeninsuranceproducts,industrycustomers,andinsurancetargets.FromDecember2022,insurancecompaniesshouldsubmitnationaldataoftheStatisticalFormofGreenInsuranceBusinessonapilotbasis.OfficialsubmissionscommencefromJuly2023.CBIRCIssuestheNoticeontheStatisticalRulesonGreenInsuranceBusinessAppendix:NoticeoftheCBIRCGeneralOfficeontheStatisticalRulesonGreenInsuranceBusinessAustraliandonesiaandlippinesporeKoreaTaiwan(China)ThailandVietnamactsinancialServicesRegulatoryUpdateQ ForinformationContactsDeloitteToucheTohmatsuLimited.On30November2022,theCBIRCissuedtheRevisedRulesonBanksandInsuranceGovernanceEvaluationMethodologytostrengthenandimprovethecorporategovernancesupervisionoffinancialinstitutions,aswellasenhancecorporategovernanceeffectiveness.Keyrevisionsinclude:•Expandingthescopeofcorporategovernanceassessmenttargets;•Optimisingassessmentmechanisms;•Establishingmorescientific-assessmentindicators;and•Strengtheningtheapplicationofassessmentresults.TherevisedRulesarenowineffect.Followingtheissuanceoftherevision,theCBIRCplanstodeploycorporategovernancesupervisoryassessmentofbankingandinsuranceinstitutionsin2023.CBIRCissuedtheRevisedRulesonBanksandInsuranceGovernanceEvaluationMethodologyBanksandInsuranceGovernanceEvaluationodology fChinaonBankingRegulationandSupervisionOnOn11November2022,theChinaBankingandInsuranceRegulatoryCommission(CBIRC)issuedthedraftrevisionofLawofthePeople'sRepublicofChinaonBankingRegulationandSupervisionforconsultation.Thepurposeofthereviseddraftistoimprovethelaw-basedfinancialregulationandsupervisionandenhancetransparencyandruleoflawoffinancialregulationandsupervision.Therevisionaimsto:•Improveprudentialregulatoryrules,strengthenconductsupervision,andprotectconsumers’legitimaterightsandinterestseffectively;•Achievefullcoverageofsupervision,andstrengthensupervisoryenforcementtotackleillegalactsofshareholdersandactualcontrollers;and•Improveriskresolutionmechanismandearlyinterventionsystem,furtherenrichriskresolutionmeasuresandincreaseresolutionefficiency.Theconsultationclosedon11December2022.CBIRCsolicitspublicopinionsontheLawofthePeople'sRepublicofChinaonBankingRegulationandSupervision(RevisedDraftforConsultation)66IntroductionrporateGroupFinanceCompanies maryOn14October2022,theCBIRCissuedtherevisedRulesonCorporateFinanceCompaniesafterconsultation.TheRulesaimtostrengthenthesupervisionofcorporategroupfinancialcompaniesandtoIntroductionrporateGroupFinanceCompanies maryOn14October2022,theCBIRCissuedtherevisedRulesonCorporateFinanceCompaniesafterconsultation.TheRulesaimtostrengthenthesupervisionofcorporategroupfinancialcompaniesandtoguidesteadyoperationincompliancewiththelawandregulations.Keyamendmentsare:1.Revisiontomarketentrystandardsandexpansionofsectoropening-up;2.Optimisedbusinessscopeandimplementationofclassifiedsupervision;3.Additionalregulatoryindicatorstostrengthenriskmonitoringandearlywarning;4.Strengthenedcorporategovernanceandsupervisionofshareholders’equity;andRulesonInformationDisclosureofLifeInsuranceProductsOn17November2022,theCBIRCissuedtheRulesonInformationDisclosureofLifeInsuranceProductstoprotectinsuranceapplicants,theinsuredandthebeneficiaries’rightsandinterests,aswellastopromotehealthyandsustainableindustrydevelopment.KeyRulesare:•Insurancecompaniesarerequiredtofullydiscloseproductinformationconcerningconsumers’rightsandinterests(includingterms,rates,andcashvalueofproducts);•InsurancecompaniesarerequiredtoenhancetheirinternalproductinformationAustraliandonesiaandlippinesporeKoreaTaiwan(China)ThailandVietnamacts5.Improvedtheriskresolutionandexitmechanism.TherevisedRulesserveasanimportantmeasuretostrengthenfinancialsupervision,prevent,andcontrolfinancialrisks,andexpandopeningup.TheRulescameintoeffecton13November2022.CBIRCReleasestheRulesonCorporateGroupFinanceCompaniesAppendix:RulesonCorporateGroupFinanceCompaniesnterimRulesonPersonalPensionBusinessofCommercialBanksandWealthManagementCompaniesOn4November2022,theCBIRCissuedthedraftInterimRulesonPersonalPensionBusinessofCommercialBanksandWealthManagementCompanies.Thepurposeofthereviseddraftistofacilitatethestandardiseddevelopmentofthethird-pillarpensionsystemandthepersonalpensionbusinessofcommercialbanksandwealthmanagementcompanies.KeyupdateswithinthedraftInterimRulesinclude:1.ClarificationofthepurposeoftheInterimRules,relevantdefinitionsofthepersonalpensionbusiness,industryplatformsfunctions,andtheregulatorybodies;2.Clarificationofthescopeofthepersonalpensionbusiness,includingspecificrequirementsforpersonalpensionaccountsandpersonalpensionproducts,etc;3.Detailsrelatingtothetypesofpersonalpensionwealthmanagementproductsandtherequirementstobemetbyparticipatinginstitutions;4.Arequirementforcommercialbanksandwealthmanagementcompaniestosubmitinformationtotheindustryinformationplatformsonpersonalpensionandrelatedwealthmanagementproductsandreporttoregulatoryauthorities;and5.Supervisionandsupplementaryprovisions.Theconsultationperiodendedon13November2022.5 CommercialBanksandWealthManagementCompanies(forconsultation)CBIRCSolicitsPublicOpinionsontheInterimRulesonPersonalPensionBusinessofForinformationContactsDeloitteToucheTohmatsuLimited.egulatoryUpdateQdisclosuremanagementmechanism;•Clarifiedtheresponsibilitiesofrelevantpersonnelandinsurancecompaniesintermsofproductinformationdisclosuremanagement,formulation,anduseofinformationdisclosurematerials;and•ClarifiedregulatorymeasuresandpenaltiesagainstforRulesviolations.CBIRCReleasedtheRulesonInformationDisclosureofLifeInsuranceProductsPersonalPensionBusinessofInsuranceCompaniesTostandardisethird-pillarpensionsystemdevelopmentandencourageinsurancecompaniestocarryoutpersonalpensionbusinessactively,theCBIRCissuedtheNoticeonMattersRelatedtoPersonalPensionBusinessofInsuranceCompanieson22November2022.TheNoticeaimsto:1.Clarifyinsurancecompanies’basicrequirementstocarryoutpersonalpensionbusiness;2.Clarifythatinsurancecompaniesareallowedtoprovideannuitiesandendowmentinsuranceproductstoindividualswhosetuppersonalpensionaccounts;3.Standardisethefundmanagement,contractmanagement,salesmanagement,andcustomerserviceofpersonalpensionbusiness;4.Clarifyregulatoryrequirementsforpersonalpensionbusinessoperationofinsurancecompanies;and5.SetrequirementsfortheChinaBankingandInsuranceInformationTechnologyManagementCompanytoestablishandmaintaintheindustryinformationplatform.CBIRCIssuestheNoticeonMattersRelatedtoPersonalPensionBusinessofInsuranceCompanies