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Market Infrastructure
AFMA Calls For Speedy Passage of OBU Legislation
01/09/2021
Delays in passing legislation to reform the Offshore Banking Unit regime could harm Australia and undermine how it is perceived by foreign investors.
Fintech / Regtech
RBI Halts Plan to Allow New Umbrella Entities in Retail Payments
01/09/2021
The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India’s data localisation rules.
Capital / Liquidity
Bangladesh Bank Extends Policy on Loan Classification Leniency
01/09/2021
Borrowers will not be considered in default if they repay 25 percent of their loan instalments until December this year.
Securities / Derivatives
CSRC to Eliminate “Fake” Private Equity, Venture Capital Funds
01/09/2021
CSRC chairman Yi Huiman said “fake” private equity funds that are sold to the general public instead of targeted investors will be eliminated.
Securities / Derivatives
ICE Futures Singapore to Launch Micro US, Europe Index Futures
01/09/2021
The Micro MSCI USA and Micro MSCI Europe Index futures contracts will begin trading on ICE Futures Singapore from 11 October 2021.
ESG / Sustainability
LSEG Launches Sustainable Finance Innovation Unit in Singapore
01/09/2021
The new unit is supported by MAS and will focus on creating sustainable finance capabilities across Singapore’s fintech ecosystem.
Securities / Derivatives
HKMA, SFC to Develop Concentration Risk Alerting System – Report
01/09/2021
The new system is intended to detect excessive risk-taking by banks and investment funds to guard against an Archegos style collapse.
AML / KYC
OFAC Fines Bank of China UK for Sudan Sanctions Breach
01/09/2021
BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.
Securities / Derivatives
BlackRock Launches First Retail Fund Through New China Unit
01/09/2021
The fund will be distributed by three Chinese lenders. BlackRock plans to roll out passively-managed funds in China in the future as well.
AML / KYC
New Zealand Court Penalises TBS Bank for AML Breaches
31/08/2021
The court action against TSB Bank was the first civil proceedings brought by the RBNZ under the AML/CFT Act.
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