RBI Widens Scope of Ombudsman Mechanism to Include CICs

10/08/2022

Credit information companies will be required to have their own internal ombudsman framework, the RBI said.

Securities / Derivatives

China: Dalian Exchange Launches Trading in Soybean, Soyoil Options

10/08/2022

The new contracts will help firms to meet their risk management needs and also support the high-quality development of the related sectors, the CSRC said.

Market Infrastructure

China to Remove Foreign Ownership Cap for Insurance AMCs

10/08/2022

The CBIRC said a 25 percent cap on foreign ownership of insurance asset management companies will be scrapped on 1 September.

Crypto / Digital Assets

RBA to Explore Australia-specific Use Cases for CBDC

10/08/2022

The research project is expected to take about a year to complete and will involve the development of a limited-scale CBDC pilot operating in a ring-fenced environment.

AML / KYC

Iran Makes First Import Order Using Crypto – Report

10/08/2022

By end September, the use of cryptocurrencies and smart contracts will be widely used in foreign trade with target countries, an Iranian official said.

Fintech / Regtech

RBI Defers Deadline for Acquiring Banks to Purge Customer Card Data

09/08/2022

All entities in the transaction chain other than acquiring banks, card issuers and card networks must purge card-on-file data from 1 October 2022.

Market Infrastructure

China Regulators Concerned of Shadow Banking Resurgence

09/08/2022

China’s National Audit Office has been reviewing the books of at least 20 trust firms. The CBIRC is strengthening its risk monitoring.

AML / KYC

Russia Bars Asset Sales by Investors from Unfriendly Nations

09/08/2022

A presidential decree prevents investors from so-called unfriendly countries from selling their stakes in banks, strategic entities, and other projects.

AML / KYC

SEBI Issues Rules on Trading Account Deactivation for Inadequate KYC

09/08/2022

Trading or demat accounts will be automatically deactivated if a show-cause notice or order issued by SEBI is undeliverable at the addresses mentioned in KYC records.