Fintech / Regtech

HKMA Invites Tenders to Facilitate Regtech Adoption in Banking

17/02/2020

The HKMA is inviting tenders for the provision of professional services to help it facilitate the adoption of regtech by the banking industry.

Market Infrastructure

MAS Issues Guidance on Investment Suitability, Pricing in Private Banking

17/02/2020

MAS looks to private banks’ boards and senior management to ensure the effectiveness of policies, processes, controls and systems in sales and advisory practices, and to shape the staff behaviour.

Securities / Derivatives

SEBI Introduces New System to Detect Broker Misuse of Client Securities

17/02/2020

An online register will record brokers’ holdings of client securities, clubbing all such information collected by exchanges, depositories and clearing corporations for all types of trades.

Fintech / Regtech

S. Korea FSC to Educate Market New Data Usage Rules

17/02/2020

Pseudonymised personal information may be used without customer consent for statistical, industry research and public documentation purposes.

Enforcement

HK SFC Fines Wealth Manager for Noncompliance with Taiwan Laws

17/02/2020

Capital Global Management Limited was distributing offshore investment funds and offering investment advice in Taiwan despite not being authorised by Taiwan’s regulator.

Securities / Derivatives

CSRC Loosens Rules on New Fundraising by Listed Firms

15/02/2020

The CSRC has relaxed pricing and lock-up restrictions to incentivise listed companies to raise new funding from strategic investors through non-public offerings.

Fintech / Regtech

Australia Blockchain Roadmap Receives Mixed Response

15/02/2020

FinTech Australia chair Alan Tsen says the roadmap is disappointing, lacks vision and focuses on use cases that “felt like they’ve been written by a consulting firm space”.

Enforcement

Ex-China Development Bank Chairman Arrested for Bribes

14/02/2020

Hu Huaibang is said to have used his position to help CEFC China Energy and HNA Group obtain billions of dollars in credit that fuel their expansions.

Fintech / Regtech

Vietnam Scraps Proposed Foreign Ownership Cap for Payments Firms

14/02/2020

The SBV says the 49% foreign ownership limit proposed last November would hamper foreign investment in payments and fintech, and present difficulties for existing players.