Enforcement

ASIC Imposes Lifetime Ban on Former Westpac Banker

28/07/2018

Former premium banking relationship manager shared personal client information with external third parties, and “knowingly or recklessly” submitted false supporting documents to help clients obtain home loans.

Fintech / Regtech

ASIFMA Publishes Report on Outsourcing Regulation

24/07/2018

The report includes nine proposed leading principles for regulation of outsourcing to help securities, futures and banking intermediaries navigate different regulatory landscapes in Asia-Pacific.

Market Infrastructure

BOJ Forms Benchmark Reform Committee

24/07/2018

Committee to discuss developing recommendations on JPY interest rate benchmarks, the challenges arising from each and proposals for other solutions.

Crypto / Digital Assets

S. Korea FSC Reorganises to Meet ‘Fourth Industrial Revolution’

24/07/2018

New body charged with industry-wide consumer protection issues; Financial Innovation Bureau formed to respond to new challenges including cryptocurrency.

Market Infrastructure

SGX Proposes Clearing House Enhancements for Managing Defaults

23/07/2018

Proposals include introduction of auction protocol for liquidating defaulted derivatives clearing members’ positions, with a mechanism to distribute the resulting losses.

Enforcement

S. Korea to Name-and-Shame Consumer Protection Wrongdoers

23/07/2018

Financial firms that have neglected consumer protection to be named in list published this month, in an effort to hold them more accountable.

Capital / Liquidity

S. Korea Credit Unions Toughen Mortgage Lending

22/07/2018

Credit unions will apply stricter lending calculations for home mortgages starting this week, as the government tries to rein in rapid growth in household debt.

Capital / Liquidity

MAS Consults on Resolution Regime Amendments

21/07/2018

Amendments include introduction of a contractual recognition requirement into financial contracts governed by foreign laws, the statutory bail-in regime, and creditor compensation framework, among others.

Crypto / Digital Assets

Japan FSA Reorganises to Meet Fintech Challenge

19/07/2018

Newly created Strategy Development and Management Bureau responsible for financial policy, fintech, cryptocurrencies, money laundering, as well as administraitive duties and inspections at financial institutions.