Fintech / Regtech

Singapore Fintech Awarded Philippine Licence to Operate Digital Bank

14/01/2020

TONIK Digital Bank will be the first “pure-play” digital bank in Southeast Asia, focusing on retail deposits and consumer loans.

Securities / Derivatives

ASIC to Audit Broker Sales of Listed Investment Funds

14/01/2020

ASIC is reviewing whether sales commissions paid by fund managers to brokers or financial advisers to sell funds compromise the best interests of investors.

Enforcement

SEBI Launches Fresh Probe into NSE for Data Leak

14/01/2020

The alleged leaks are said to have involved documents related to NSE policy decisions, internal studies and board meeting minutes.

Enforcement

FSS Korea Probes Fraud Involving Small-cap Stocks

14/01/2020

A group of investors is suspected of taking control of small firms, only to then release news designed to inflate share prices or raise more capital to enrich themselves.

Enforcement

CSRC Imposes Lifetime Bans on Former Fuxing Group Executives

14/01/2020

Fuxing’s former chairman and ex-president received lifetime bans for running a six-year scheme to defraud investors of $5.3bn. Five others received market bans.

Fintech / Regtech

Legal Certainty Needed to Advance DLT Adoption in Derivatives

14/01/2020

ISDA, Clifford Chance, R3 and the Singapore Academy of Law have published a new whitepaper analysing the legal issues relating to the use of smart derivatives contracts on a distributed ledger.

Market Infrastructure

Thailand Developing Foundation for Digital Banking – Report

14/01/2020

The efforts are aimed at developing data from non-financial sources, an electronic identification system, and a suitable regulatory framework.

AML / KYC

Bangladesh Introduces e-KYC for All Financial Services Firms

13/01/2020

All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.

Market Infrastructure

QME to Leverage Blockchain to Standardise Warehouse Receipts

13/01/2020

HKEX’s Qianhai Mercantile Exchange will use blockchain tech from Ant Financial to provide verifiable warehouse receipts which will help commodities businesses to obtain financing.