Market Infrastructure

ACCC Chair Flags Lack of Competition in Retail Banking

19/09/2019

The ACCC’s Rod Sims said the lack of competition is not surprising in a market dominated by four players, where no other players have managed to make serious inroads to displace them.

AML / KYC

Singapore Charges Second National for Terrorism Financing

19/09/2019

A Singapore national was charged for providing money for terrorist purposes after he sent about $830 to an individual overseas who was said to have been facilitating terrorist acts.

Fintech / Regtech

FSC Korea to Provide Funding Support to Fintechs

19/09/2019

FSC chairman Eun Sung-soo told fintech executives that a 300 billion won fund will be set up to invest in the sector and regulations will be eased to promote fintech development.

Securities / Derivatives

Bursa Malaysia Extends Agreement to Host Derivatives on CME Globex

18/09/2019

The extension of the CME Globex services will continue to provide global visibility, accessibility and connectivity to Bursa Malaysia derivatives products.

Fintech / Regtech

HKMA Signs Operational Agreement for BIS Innovation Hub

18/09/2019

The Hub will foster collaboration between central banks and scale up the application of innovative technologies globally, says the HKMA’s Norman Chan.

Market Infrastructure

RBNZ, FMA Unimpressed by Insurers’ Inaction on Conduct Risk

18/09/2019

RBNZ governor Adrian Orr says the sector has failed to demonstrate the necessary urgency and prioritisation to provide effective governance and monitoring of conduct risk.

AML / KYC

UPDATED – ASIC, Federal Police Dismantle Online Fraud Syndicate

18/09/2019

The syndicate is said to have used fraudulently-obtained identities to steal millions of dollars from the superannuation and share trading accounts of innocent victims.

Securities / Derivatives

Chi-X Australia Launches Market-on-close Trading Solution

18/09/2019

The solution is said to be a potential game-changer for buy-side participants who need to place large orders benchmarked to closing prices.

Enforcement

Philippines Moves to End Abusive Practices by Fintech Lenders

18/09/2019

A code of ethics and code of conduct have been adopted by members of FinTechAlliance.ph prohibiting the harassment and shaming of delinquent borrowers.