Conduct, Culture & Accountability

RBI Issues New Rules on NBFC Compliance Function

21/04/2022

Upper and middle layer NBFCs have until 1 October 2023 to install a compliance function and chief compliance officer.

Cloud & Infrastructure

Japan FSA Publishes Research on Overseas Data Collection Platforms

20/04/2022

A survey of overseas authorities was conducted to inform the development of a “joint data platform” that will be used by both the FSA and BOJ.

Fraud, Scams & Cybercrime

20 Year Old Pleads Guilty in OCBC Phishing Scam Case

20/04/2022

The individual worked with other youths to provide overseas syndicates control of bank accounts that were used to receive and dissipate funds obtained through scams.

Reporting & Disclosures

WFE Publishes Paper on Human Rights Disclosure Practices

19/04/2022

The paper addresses social washing concerns and offers guidance for exchanges on reporting against human-rights related reporting frameworks.

Credit Risk

PBOC, SAFE Step Up Support for Covid-Hit Economy

19/04/2022

Banks are asked to increase lending, delay loan repayments, defer overdue loan reclassification, and support infrastructure projects and property developers.

Structural Regulation

Singapore Tightens Requirements for Family Office Tax Breaks

19/04/2022

The new requirements are expected to slow the market’s growth but over time attract larger and more wealthy families to set up in Singapore.

Climate Risk

SBTi Offers Guidance to FIs on Setting Net Zero Targets

19/04/2022

SBTi’s new paper provides principles, definitions, metrics, and target formulation considerations for FIs to set quantitative net-zero targets.

Credit Risk

Bangladesh Bank Issues Provisioning Policy for ‘Other Assets’

19/04/2022

Banks will have to hold ‘bad debt’ level provisions against funds allocated for certain business expenditures if they sit on the balance sheet as ‘other assets’ for over a year.

Anti-Bribery & Corruption

China to Step Up Corruption Crackdown in Capital Markets

19/04/2022

So far this year, nine financial officials were expelled from the CCP, with some facing other disciplinary punishments including criminal prosecution.