Data Privacy

FSC Korea Outlines Key Policy Tasks for H2 2020

14/06/2020

The measures include continued support for businesses and individuals, with some focus being diverted back to pre-Covid policy work to support innovation and data-driven initiatives.

Clearing & Post-Trade

EC Proposes Simplified Approach to Supervising Non-EU CCPs

14/06/2020

Under the new approach, third-country CCPs that are not deemed systemically important will only be subject to basic ESMA supervision, relying on ‘comparable compliance’.

Conduct, Culture & Accountability

ASIC Issues Guidance on Listed Company Executive Pay Decisions

14/06/2020

The high-level guidance set out specific factors boards and remuneration committees should consider when exercising discretion on executive variable pay in the current environment.

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.