Enforcement

FMA Identifies AML Breaches by Investment Platform Sharesies

23/08/2021

The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.

Fintech / Regtech

BSP to Close Application Window for Digital Banks

23/08/2021

The application window will be closed for three years. Applications received by 31 August will be processed on a first-come, first-served basis.

Market Infrastructure

China: New State Pension to Boost Retirement Savings

23/08/2021

The establishment of the new state pension company is waiting for regulatory approval from the CBIRC.

ESG / Sustainability

Thailand: Regulators Set Out Sustainable Finance Initiatives

22/08/2021

The strategic initiatives include the development of a sustainable finance taxonomy, the ESG data environment, and sustainable finance products.

Fintech / Regtech

US SEC Allows API Access to Financial Disclosure Data

22/08/2021

The APIs aggregate financial statement data and make corporate disclosures quicker and easier for developers and third-party services to use

Capital / Liquidity

OJK Indonesia Introduces Digital Banking Framework

22/08/2021

Digital banks should have a minimum paid-up capital of IDR 10 trillion (USD 694 million). However, the capital deposit required at the time of application is IDR 3 trillion.

Capital / Liquidity

Bangladesh Bank Raises Leverage Ratio Requirement

22/08/2021

A higher leverage ratio will help banks reduce import costs, increase quality capital, and enhance their ability of banks to absorb riskes, Bangladesh Bank said.

Securities / Derivatives

Taiwan FSC Eases Rules for Overseas Branches of Securities Firms

22/08/2021

Securities firms will be allowed to offer foreign currency custody services at overseas branches with a net value of TWD 4 billion, compared to TWD 10 billion previously.

Market Infrastructure

BSP Relaxes Rules on FX Trade Approval for Banks

22/08/2021

Banks can sell FX without prior BSP approval if they will be used for activities such as online e-commerce payments, certain imports of goods, and fee payments.