Payments & Settlements

RBI Updates Oversight Framework for FMIs, Retail Payment Systems

14/06/2020

The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.

Trading & Investment

CSRC Green-lights Trading in Six New Commodity Options Contracts

14/06/2020

The ZCE will launch trading steam coal options; the DCE will launch polypropylene, PVC and LLDPE options; and the SHFE will launch aluminum and zinc options.

Payments & Settlements

PBOC Grants Bank Card Clearing Licence to Amex JV

14/06/2020

American Express has become the first foreign company to receive a network clearing licence in China, which will allow it to compete with Tencent, Alipay and China UnionPay for market share.

Anti-Money Laundering

AUSTRAC Ups Ante in Westpac Money Laundering Case

14/06/2020

AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.

Fraud, Scams & Cybercrime

Malaysia: Former Trust Consultant Jailed for Securities Fraud

13/06/2020

The former consultant promised investors guaranteed returns but used the monies they paid for share trading in her personal account.

Conduct, Culture & Accountability

New Zealand’s New Conduct Regime Not Adequately Developed

13/06/2020

The bill to introduce a new conduct regime in New Zealand is not yet adequately developed, say Consumer New Zealand, the NZBA, and the Financial Services Council.

Conduct, Culture & Accountability

AMAC Issues Guidance on Private Fund Performance Remuneration

13/06/2020

The guidelines articulate four basic principles private fund managers are required to follow in designing and implementing performance remuneration mechanisms.

Conduct, Culture & Accountability

NAB to Lift Industry Standards with Bank-Wide Education Programme

12/06/2020

The programme, to be launched in partnership with FINSIA, will be rolled out for all of NAB’s Australia and New Zealand bankers and support staff.

Structural Regulation

Taiwan Fintechs to Gain Access to Canada’s Securities Sandbox

12/06/2020

The CSA sandbox allows firms to obtain exemptive relief from securities law requirements to test new products and services in the Canadian market on a time-limited basis.