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Enforcement
Advice Compensation Paid by Aussie Majors Tops A$3b
16/02/2022
As at end-2021, Australia’s major banks have paid or offered a total A$3.15 billion in compensation as a result of fees-for-no-service misconduct and non-compliant advice.
Market Infrastructure
Australia to Further Refine Foreign Investment Regime
16/02/2022
The government is seeking views on further refinements to the foreign investment framework to ensure it remains fit for purpose.
Fintech / Regtech
Australia Commences Review of Consumer Data Right
16/02/2022
The review will explore the extent to which implementation of the CDR drives value for consumers, increases competition, and drives innovation in data services.
Market Infrastructure
UBS, StanChart, BNP Sign On to Join VCM Initiative
16/02/2022
The initiative, now known as Carbonplace, will seek to develop infrastructure to facilitate reliable, secure, and scalable trading of high-integrity carbon credits.
Market Infrastructure
StanChart HK Becomes Direct Participant of China’s CIPS
16/02/2022
Standard Chartered Hong Kong is the first foreign bank qualified as a direct participant of China’s Cross-border Interbank Payment System in the offshore market.
Securities / Derivatives
FMSB Issues Standards on Sharing Investor Allocation Information
15/02/2022
The Standard sets out practices for syndicate banks on the sharing of investor allocation information in the fixed income primary markets.
Securities / Derivatives
RBI Allows Banks to Deal in Foreign Currency Settled OIS
15/02/2022
AD Cat-I banks are eligible to offer foreign currency settled overnight indexed swaps to persons not resident in India as well as to other AD Cat-I banks.
CBIRC Approves BlackRock JV to Commence Private Pension Trial
15/02/2022
BlackRock CCB Wealth Management will be able to launch retirement WMPs in Guangzhou and Chengdu for a one-year trial period.
ESG / Sustainability
JPX Commences Research On ‘Digitally Tracked Green Bonds’
14/02/2022
JPX plans to issue the bond to help it achieve carbon neutrality, while at the same time enabling investors to track its progress over time.
AML / KYC
SFC Fines South China Commodities for AML Breaches
14/02/2022
This is the third action the SFC has taken against a licensed firm over the use of Xinguanjia, a customer supplied system provided by Hengxin Software.
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