The CCIV regime will offer a more flexible and tax-efficient corporate structure for fund managers. The regime is targeted to commence from 1 July 2022.
APRA will proceed with implementation of the interim ARS 220.0 commencing 1 January 2022, despite feedback indicating its approach presented a burden for ADIs.
The review recommends enhancing the government's powers to protect the payments system. A single, integrated licensing framework for payment services should also be introduced.
If the failing super funds do not improve in next year's test they will have to transfer their members to funds that deliver better outcomes.
RBI governor Shaktikanta Das said the central bank is studying various aspects of a digital rupee with a view to conducting trials in December.
The former presidential aide claimed a scam token had been certified by the BOK, FSS and KFTC, and that investors could multiply their investment by 100 times.
The CSRC is drafting rules that would prohibit Internet firms holding large amounts of user-related data from listing overseas, targeting firms with VIE structures.
The ACCC has asked interested parties to submit their views regarding NAB’s proposed acquisition of Citigroup’s Australian consumer banking business by 13 September.
A new IMF paper discusses the impacts fintech will have on currency issuance, monetary policy implementation, and payment system soundness, among other functions of a central bank.
APRA will look to enhance resilience in the financial system, including cyber resilience, while also transforming governance, risk-culture, remuneration and accountability.