Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Fintech / Regtech
ACCC, OAIC Outline Enforcement Approach to Data Rights Breaches
11/05/2020
A ‘strategic risk-based approach’ to compliance and enforcement has been adopted, focusing on building consumer confidence in the security and integrity of the Consumer Data Right system.
Big Picture
Regulatory Initiatives to Address Culture & Conduct Risk in Banking
11/05/2020
In its latest annual Compendium, Starling draws on survey findings and commentary from regulators to identify ten culture and conduct trends in the banking sector.
AML / KYC
European Commission Sets Out Action Plan to Root Out AML Loopholes
10/05/2020
A single EU rulebook will minimise interpretation and implementation discrepancies across member states, and an EU-level AML/CFT body will address supervisory gaps.
Market Infrastructure
ESMA Approves Four Trade Repositories for SFTR Reporting
10/05/2020
DTCC, UnaVista, KDPW and REGIS-TR will have their TR registrations for derivatives contracts under EMIR extended to include securities financing transactions under SFTR.
Korea: KDB Can Intervene in Bailed-out Companies to Prevent Value Loss
10/05/2020
Under the latest revisions, Korea Development Bank may exercise its voting rights in bailed-out companies for decisions that may impact shareholder value or when restructuring is required.
AML / KYC
Singapore Police Raid ZenRock Following HSBC Allegations of Fraud
10/05/2020
Singapore’s High Court has reportedly appointed KPMG executives as interim judicial managers to oversee a transition to new management at ZenRock Commodities, an oil trading firm.
Enforcement
PBOC Issues Record Penalty Against Payments Firm
09/05/2020
Allscore Payment Service was also found to have providing services for illegal gambling websites, embezzled customer funds and misappropriated reserve funds.
Securities / Derivatives
India: Gift City Exchanges Launch First Rupee Derivatives
09/05/2020
Rupee futures and options will offer overseas market participants new onshore tools to hedge their India exposures, reducing their reliance on offshore currency markets.
Securities / Derivatives
SEBI Defends Rules Limiting Mutual Fund Investment in Unlisted Debt
09/05/2020
SEBI was responding to recent comments by Franklin Templeton’s president, which appeared to in part blame the rules for the closure of six India funds.
Market Infrastructure
Australia Defers All Royal Commission Commitments by Six Months
09/05/2020
In line with the Treasury’s announcement, ASIC has deferred mortgage broker reforms and the introduction of product design and distribution obligations.
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