Big Picture

Financial Stability Risks from BigTech May Be Increasing: FSB

21/03/2022

The FSB warns that bigtechs could become so large or dominant that their failure could have a severe impact on economic activity and financial stability.

NZ FMA Asked to Improve Conflicts Handling Process

21/03/2022

An independent review has found shortcomings in the way the FMA handled a conflict of interest last year and proposed changes to its processes.

Sanctions

State Street to Be Dismissed as Manager of HK Tracker Fund

21/03/2022

Hong Kong’s government commenced a review last year to assess State Street’s role as the manager of TraHK, the city’s largest and most-popular ETF.

Securities / Derivatives

Eurex Sets Launch Date for Expansion of KRX Link

20/03/2022

International investors will be able to trade KOSPI 200 options with weekly expiries outside Korean trading hours via Eurex from 28 March.

Fintech / Regtech

Australia Consults on Expansion of CDR to Non-Bank Lending

20/03/2022

The designation of non-bank datasets under the CDR will support creditworthiness assessments and compliance with responsible lending obligations.

Enforcement

MAS Bars Former DBS Wealth Planner for Cheating Clients

20/03/2022

The former DBS Bank wealth planning manager fraudulently deceived clients into transferring SGD 490,000 into his personal bank account.

ESG / Sustainability

MAS, CDP Partner to Enhance Access to Quality ESG Data

20/03/2022

MAS and CDP will collaborate to explore the exchange of information between CDP’s disclosure system and MAS’ Project Greenprint.

ASIC to Review Whistleblower Policies for Noncompliance

20/03/2022

ASIC will consider enforcement action and other regulator tools where compliance falls short of expectations, says commissioner Sean Hughes.

Fintech / Regtech

Japan FSA Progresses Work on AI-based Translation System

19/03/2022

Translated financial documents were used as training data for the AI system, helping to improve the efficiency and accuracy of translations between Japanese and English.