Enforcement

APRA Blamed for Scrapped Class Action Against IOOF

26/05/2020

A Quinn Emanuel class action “was no longer in the interests of group members to continue” following last year’s dismissal of APRA’s lawsuit against IOOF.

Fintech / Regtech

ACCC Launches Consumer Data Right Accreditation Platform

26/05/2020

The platform serves as a trusted environment where approved participants can share encrypted data, and provides a portal through which banks and fintechs can apply to be accredited.

Capital / Liquidity

HKMA Issues Guidance on Treatment of Loans Under Relief

26/05/2020

The HKMA’s guidance on the treatment of loans subject to government guarantees and payment moratoriums is largely in line with guidance issued by the BCBS last month.

Market Infrastructure

RBA Invites Tenders for Transaction Processing and Settlement System

26/05/2020

The new system should be able to process SWIFT FIN messaging under ISO 20022 as well as the existing SWIFT MT throughout a three-year coexistence period.

Securities / Derivatives

SSE Launches Short-term Corporate Bond Issuance Pilot

25/05/2020

Under the pilot, SSE-listed companies can issue bonds with durations under one year to professional investors, provided the proceeds are not used to meet long-term funding needs.

Market Infrastructure

S. Korea Enhances PayInfo Service to Boost Consumer Convenience

25/05/2020

The updated system will allow account customers to switch their monthly automatic payments between first- and second-tier financial firms for handling.

Market Infrastructure

CSRC Urges US to Avoid Politicising Securities Regulation

25/05/2020

The CSRC has responded to a US bill that could subject the 233 Chinese companies listed in the US to PCAOB oversight in their audits, or delisting for noncompliance.

Australia to Regulate Litigation Funders as AFS Licencees

25/05/2020

In three months, litigation funders will no longer be exempt from having to hold an AFS Licence and being categorised as managed investment schemes.

ESG / Sustainability

TAIFEX to Launch ESG and Biotech Futures Contracts

25/05/2020

The ESG Index Futures contract will track the performance of TWSE listed companies that meet the globally recognised ESG standards used by the FTSE4Good Index Series.