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Credit Risk
CBIRC Directs FIs to Offer Additional Relief to Covid-Hit Sectors
07/06/2022
The CBIRC is asking banks and insurers to improve the financial services they provide to enterprises in industries affected by Covid-19.
Fraud, Scams & Cybercrime
RBI Opens Applications for Fourth Sandbox Cohort
06/06/2022
The fourth sandbox cohort will focus on preventing fraud. Eight entities have also been selected to participate in the third cohort on MSME lending.
Structural Regulation
ASX Finalises Changes to Issuer Services Fee Model
06/06/2022
The changes will take effect from 1 July and result in a “substantially simpler, clearer and more predictable” fee model, ASX says.
Tokenisation
Hong Kong SFC Issues Warning on NFT-related Risks
06/06/2022
Some NFTs have ‘crossed the boundary’ between a collectible and a financial asset, which would bring them under the SFC’s remit and require licensing.
Operational Risk
HSBC, Hang Seng Suffer Internet Banking, ATM Disruption
06/06/2022
Finance sector legislator Chan Chun-ying said he expects the HKMA to demand detailed reports on the incident from the two banks.
Anti-Money Laundering
EU Proposes to Make AML Compliance a Licence Condition
05/06/2022
EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.
Emerging Prudential Risks
RBNZ Proposes Changes to its Monetary Policy Remit
05/06/2022
The RBNZ suggests housing market objectives be excluded from the remit, just a year after it was amended to include house price considerations.
Trading & Investment
Dhaka Bourse to Launch First ETFs in Three Months
05/06/2022
BSEC has given consent to allow ETFs to launch in Bangladesh’s capital market. The minimum size of an ETF will be set at $5.6mn.
Cybersecurity
Foreign Firms Express Concern Over CSRC Cybersecurity Rules
05/06/2022
Financial firms are reportedly concerned that proposed new rules on cybersecurity could make them vulnerable to hackers and present sector-wide risks.
Anti-Bribery & Corruption
Former CSRC Official Sentenced to Death With Reprieve
05/06/2022
A former CSRC official and Communist Party city chief was found to have taken $41mn in bribes between 2004 and 2020.
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