Capital / Liquidity

PBOC, CBIRC Issue Draft Rules for Small Loans Businesses

03/11/2020

Microfinance businesses must have a registered capital of at least CNY 1 billion. Those operating across provincial borders must have at least CNY 5 billion.

Market Infrastructure

Australia Commences Wide-ranging Review of Privacy Law

03/11/2020

An issues paper released as part of the review seeks feedback on whether EU adequacy under GDPR is necessary or desirable, among other issues relevant to reform.

RBI Instructs Lenders to Repay ‘Interest on Interest’ to Borrowers

03/11/2020

Interest charged on interest for certain loans will be repaid by lenders under a government scheme, regardless of whether the loans were under moratorium.

BOK Extends Special Loan Facility for Banks, Brokers, Insurers

03/11/2020

To be extended until 3 February, the special lending programme permits banks, brokerages and insurers to take out loans from the BOK against collateral.

AML / KYC

Singapore Bill to Align Payment Services Act with FATF Standards

03/11/2020

The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.

Fintech / Regtech

RBA Launches New Project to Explore Wholesale CBDC

03/11/2020

The RBA has partnered with CBA, NAB, Perpetual and ConsenSys to explore if there is a future role for a wholesale CBDC in the Australian payments system.

Uncategorised

BIS Innovation Hub, HKMA Announce TechChallenge Winners

02/11/2020

The winning proposals hold ‘great potential’ for addressing some long-standing pain points of the global trade finance business, said the HKMA’s Edmond Lau.

Enforcement

KRX Probes Market Makers’ Compliance With Short Selling Rules

02/11/2020

The inspection will cover all 22 market makers, focusing on whether they conducted naked short selling and whether they violated the uptick rule.

Enforcement

CBA to Pay Penalty for Increasing Problem Gambler’s Credit Limit

01/11/2020

ASIC launched civil proceedings against CBA in March alleging that the bank failed to take account of a notification by a customer that he was a problem gambler.