AML / KYC

FATF Grants Pakistan More Time to Address AML/CFT Deficiencies

12/04/2020

Pakistan will now have to submit its progress report in August instead of April, and the FATF review scheduled for June will instead take place in October.

Fintech / Regtech

‘Mox Bank’ Becomes Latest Virtual Bank to Launch HK Pilot

12/04/2020

‘Mox Bank’ – backed by Standard Chartered, PCCW, HKT and Trip.com – has become the third virtual bank to launch pilot services in Hong Kong.

China Probes Abuse of Epidemic Control Lending Programme

12/04/2020

Local authorities are directed to review the list of companies that received loans under a central bank initiative aimed at channelling low-cost funds into epidemic control.

Securities / Derivatives

SC Malaysia Asks Fund Managers to Ramp Up Liquidity Stress Testing

12/04/2020

Stress testing should be conducted more regularly to assess the impact on fund liquidity and redemptions, and to pre-empt liquidity shortages before they occur.

Australia Commences Coronavirus SME Guarantee Scheme

12/04/2020

The 50% government guarantee under the scheme enables lenders to offer loans to SMEs “cheaply and more freely compared to ordinary business loans”.

New Zealand: Mortgage Deferrals Will Not Impair Credit Ratings

10/04/2020

Banks have agreed with credit reporting agencies that customers who defer mortgage repayments due to Covid-19 will not have their credit ratings downgraded.

AML / KYC

MAS, ABS Push Greater Adoption of Digital Financial Services

10/04/2020

The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.

Fintech / Regtech

FSC Korea Moves to Support Corporate, Fintech Funding Needs

10/04/2020

Korea’s bond market stabilisation fund has begun operating. Additional support will come through a new bond underwriting programme, P-CBOs, and direct investment into fintechs.

Securities / Derivatives

SGX Marks First Listing of Dual Class Shares in Digital Ceremony

10/04/2020

AMTD International’s listing ceremony was SGX’s first to be conducted digitally with a live global broadcast. It was also the first SGX listing of a NYSE company.