Conduct, Culture & Accountability

SFC Bans Former Private Banker Over False Academic Qualifications

01/12/2021

The SFC considers the former relationship manager to not be fit and proper as her conduct was “plainly dishonest”.

Structural Regulation

RBI to Update Rules on Ownership of Private Sector Banks

01/12/2021

Promoters will be able to increase their long-run stakes in private sector banks from 15 to 26 percent. The capital requirement for a universal bank licence will be doubled.

Conduct, Culture & Accountability

Bursa Malaysia to Enhance Conflict of Interest Disclosure Rules

01/12/2021

Proposed amendments will require directors and senior managers of listed companies to disclose their interests in competing businesses.

Clearing & Post-Trade

ASX Opens First Industry Test Environment for CHESS Replacement

01/12/2021

ITE1 is open for software providers to test functional and non-functional workflows for the new equities clearing and settlement system.

Cryptocurrency

MAS Grants Fourth Digital Payment Token Licence

30/11/2021

Crypto payments firm TripleA is the fourth company to receive a DPT licence in Singapore after FOMO Pay, DBS Vickers and Independent Reserve.

Payments & Settlements

SAFE Fines Tenpay for Breaching Foreign Exchange Rules

30/11/2021

Tenpay failed to submit relevant materials and handle foreign exchange sales services in accordance with regulations.

Resolution & Recovery

India Proposes New Cross-border Insolvency Framework

30/11/2021

The framework will provide a mechanism for foreign creditors to obtain recognition of overseas proceedings in local courts.

Credit Risk

RBNZ to Amend Connected Exposures Policy for Banks

30/11/2021

The RBNZ proposes to remove the aggregate gross exposure limit and to allow banks to recognise credit risk mitigations when measuring aggregate net exposures.

Anti-Money Laundering

AUSTRAC to Update Guidance on Reporting Cash Transactions

30/11/2021

A TTR will be required for each individual cash transaction of A$10,000 or more. Reporting entities will not need to combine transactions when submitting TTRs.