Supervision & Enforcement

APRA Heatmap Having Desired Effect on Super Fees

02/07/2020

APRA is putting more than a dozen MySuper trustees on notice that it is considering enforcement action against those that continue to underperform on fees.

Anti-Money Laundering

BCBS Updates AML Guidance to Advance Supervisory Cooperation

02/07/2020

Prudential and AML/CFT supervisors should establish an effective cooperation mechanism regardless of the institutional setting, the updated guidelines say.

Liquidity Risk

PBOC Cuts Funding Costs for Small Firms, Rural Sectors

02/07/2020

The PBOC has cut the rediscount rate for the first time in a decade, and the relending rate for the second time this year.

Credit Risk

Sri Lanka: CBSL to Absorb Credit Risk on Business Loans

02/07/2020

The CBSL will provide credit guarantees ranging from 80% for smaller loans to 50% for larger loans issued to businesses affected by Covid-19.

Conduct, Culture & Accountability

SocGen Australia Pleads Guilty to Client Money Offences

02/07/2020

SocGen failed to pay client money into segregated authorised bank accounts and made payments out of a client money account that were not permitted.

Trading & Investment

PBOC Finalises Rules on ‘Standardised Note’ Issuance

02/07/2020

Standardised notes will be considered money market instruments, backed by commercial paper which generates cash flows for distribution to investors.

Fraud, Scams & Cybercrime

FSC Korea Introduces Legislative Revisions on Predatory Lending

02/07/2020

The maximum annual interest rate will be limited to 6%, compared to 24% under the current law. Maximum penalties will also be raised.

Structural Regulation

India Standardises Stamp Duty on Securities Transactions Nationwide

02/07/2020

India has revised its framework for levying the stamp duty on securities transactions, in a bid to ensure uniformity across the country.

Anti-Money Laundering

New FATF President Presents Objectives For Two-Year Term

01/07/2020

FATF President Marcus Pleyer will prioritise work on digital transformation, racially motivated terrorism, migrant smuggling, environmental crime, and illicit arms trafficking.