Fraud, Scams & Cybercrime

FSC Korea Introduces Legislative Revisions on Predatory Lending

02/07/2020

The maximum annual interest rate will be limited to 6%, compared to 24% under the current law. Maximum penalties will also be raised.

Structural Regulation

India Standardises Stamp Duty on Securities Transactions Nationwide

02/07/2020

India has revised its framework for levying the stamp duty on securities transactions, in a bid to ensure uniformity across the country.

Anti-Money Laundering

New FATF President Presents Objectives For Two-Year Term

01/07/2020

FATF President Marcus Pleyer will prioritise work on digital transformation, racially motivated terrorism, migrant smuggling, environmental crime, and illicit arms trafficking.

Data Privacy

Australia Launches Open Banking Data Sharing Regime

01/07/2020

The big four banks have opened up their deposit, transaction account, credit and debit card data for customers to share with other major banks or accredited fintech providers.

Liquidity Risk

India Approves Special Liquidity Scheme for NBFCs

01/07/2020

An SPV back by State Bank of India will buy investment-grade debt paper with residual maturity under three months to provide NBFCs and HFCs liquidity to settle existing debt.

Trading & Investment

SGX to Launch New Taiwan Index Futures Contract

01/07/2020

The launch will help meet the rising demand of US and European investors for access and investment exposure to Taiwan, said SGX Head of Equities Michael Syn.

Sustainable Finance

DBS Unveils Sustainable Finance Framework for Clients

01/07/2020

The framework and taxonomy will help DBS clients transition to more sustainable business models, providing them transition financing to do so.

Structural Regulation

Philippine SEC Seeks Independent Board at Stock Exchange

01/07/2020

The Philippine Stock Exchange currently has three independent directors on its 15-seat board. Under the proposed rules, a majority of the directors will have to be independent.

Fraud, Scams & Cybercrime

Korea: Optimus Asset Management Ordered to Suspend Business

01/07/2020

Company executives will be removed and designated administrators will take over their duties. Optimus is accused of fabricating depository statements sent to brokers.