The FSC will once again start receiving applications for new internet-only banks in October, with a view to granting one or more new licences by year-end.
The Philippines SEC has issued rules governing the operation and use of equity- and lending-based crowdfunding to help smaller firms access financing.
Queensland-based Cigno and its associate, Gold-Silver Standard Finance, are the focus of ASIC's proposed first use of its new product intervention power.
China-based UCF Pay, a subsidiary of Hong Kong-listed Chong Sing Holdings, reportedly used client funds for other purposes, causing a shortfall of ¥240mn.
The big four banks will need to raise A$50bn to meet higher loss-absorbing capacity requirements by 2024, though the increase is less than was proposed last November.
KB Kookmin and KEB Hana have three months to submit plans for reducing their China corporate bodies' reliance on support from their Korean parents.
Transactions involving digital tokens or cryptocurrencies that function or are intended to function as a medium of exchange will be exempt from GST.
Punjab National Bank says Bhushan Power & Steel misappropriated bank funds and manipulated its books to raise funds from lenders.
Regulators have reportedly found ICBC's Shanghai branch deputy head to be in violation of regulations related to fundraising and buying wealth management products.
Intermediaries and AIs must sign an acknowledgement letter making clear that assets held in designated client asset accounts are protected from recourse.