Conduct, Culture & Accountability

SFC Fines GEO Securities for Breaching Licence Conditions

25/03/2021

The firm also did not have effective controls in place for product due diligence, client risk tolerance assessment, and record-keeping.

Payments & Settlements

PBOC, SWIFT to Establish Cross-border Payment Stability

25/03/2021

The PBOC’s joint venture with SWIFT will build a localised messaging network to provide Chinese FIs with a more stable connection to the main SWIFT network.

Structural Regulation

Group of Seven Agrees to ‘Sizeable’ Increase in IMF Reserves

24/03/2021

The G7 has also agreed to work with the IMF to enhance transparency and accountability around the usage of SDRs.

Capital Adequacy

Bangladesh Bank Eases Dividend Caps for Banks, NBFIs

24/03/2021

Banks can pay up to 35 percent in dividends and NBFIs up to 30 percent, provided half of the dividend is paid in stock.

Operational Risk

MAS, ABS Publish Guidance on Workplace Design Strategies

24/03/2021

Strategies and good practices presented in a newly published study are aimed at supporting FIs in building pandemic-resilient workplaces.

Structural Regulation

ASIC to Adopt ‘No-Action’ Position to Facilitate Virtual AGMs

24/03/2021

ASIC supports the holding of meetings using appropriate technology and the electronic dispatch of notices of meetings including supplementary notices.

Market Abuse

CFTC Penalises Coinbase for False Reporting, Wash Trading

23/03/2021

The settlement requires Coinbase to pay $6.5mn, and desist from any further violations of the Commodity Exchange Act or CFTC regulations.

Reporting & Disclosures

IFRS Foundation Forms Working Group to Converge Standards

23/03/2021

The working group will provide a forum for structured engagement with standard-setting bodies to converge their various sustainability reporting standards.

Cryptocurrency

BSP, PDAX to Cooperate on Crypto-and-Fintech Regulatory Sandbox

23/03/2021

A crypto-and-fintech regulatory sandbox will boost innovation and technological advancement in financial services, while also increasing public participation in these markets.