ESG / Sustainability

MAS Announces Extension of Credit Support Measures into 2021

05/10/2020

The extended measures allow relief for individuals and SMEs to progressively expire over 2021, while also encouraging the resumption of loan repayments.

Fintech / Regtech

SSE, SZSE to Pilot Blockchain in Trading, Custody Systems

05/10/2020

The Shanghai and Shenzhen stock exchange have separately announced plans to test newly-developed blockchain systems in equity markets.

Fintech / Regtech

RegTech Asia 2020: Digital KYC, Onboarding & Authentication

04/10/2020

Digital transformation has accelerated in financial services amid the pandemic. But it has not come without risks.

Securities / Derivatives

SFC Issues Guidance on E-dissemination of Product Documents

03/10/2020

Investors currently receiving paper investment product documents need to be notified at least one month before e-dissemination arrangements take effect.

AML / KYC

BitMEX Founders Charged for Evading AML Requirements

03/10/2020

Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.

Bangladesh Further Extends Ban on Downgrading Borrowers

02/10/2020

Bangladesh Bank has instructed banks not to change their classifications of loans for another three months for borrowers that fail to make repayments.

AML / KYC

Australia to Allocate A$800m to Digital Initiatives in Budget

02/10/2020

The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.

ESG / Sustainability

IFRS Foundation Consults on Role in Global Sustainability Standards

02/10/2020

One possible option is for the IFRS Foundation to establish a new sustainability standards board, operating alongside the IASB, focusing initially on climate-related matters.

Capital / Liquidity

RBI Defers Implementation of NSFR, Final Tranche of CCB

02/10/2020

The delays are a result of “continuing stress on account of Covid-19”, giving banks a further six months until 1 April 2021 to meet the higher requirements.