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.