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.

Enforcement

Taiwan FSC Penalises Eastspring for Violations by Former CIO

09/08/2022

The former chief investment officer used “another person’s account” to trade the same stock that was being traded by Eastspring.

Capital / Liquidity

MAS Revises Notice to Implement IRRBB Disclosure Requirements

09/08/2022

The revised Notice 637 will take effect from 1 January 2023, implementing the revised Pillar 3 disclosure requirements for IRRBB.

Securities / Derivatives

Japan QUICK Corp to Disseminate Real Time ODX Data

09/08/2022

QUICK Corp will disseminate real time market information obtained from Osaka Digital Exchange’s Proprietary Trading System for listed securities.

Market Infrastructure

Australia Issues Revised Cyber Resilience Testing Framework

09/08/2022

The updated version of the CORIE framework follows the CFR’s endorsement of a plan for the wider rollout of the programme.

Securities / Derivatives

SEHK Migrates Systems to New SSE Trading Gateway

09/08/2022

The Shanghai Stock Exchange’s new trading gateway was introduced to “ensure the safe and compliant operation of member transactions and related systems” and prevent trading risks.