Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Securities / Derivatives
China Launches New FX Options Trading Pairs in Interbank Market
28/08/2019
Before Monday, the CFETS only provided FX options trading where one side of the pair was the CNY. New contracts include EUR/USD, USD/JPY, GBP/USD, AUD/USD and USD/HKD.
Capital / Liquidity
RBI to Transfer $24bn to Govt on Committee Recommendation
28/08/2019
The transfer will comprise of a $17.2bn income surplus and $7.4bn in excess provisions resulting from a newly revised economic capital framework for the RBI.
Securities / Derivatives
China to Accelerate Capital Market Reforms – Report
28/08/2019
The CSRC said it has adapted its plan to accelerate the opening-up of the capital market from international best practices.
AML / KYC
Philippine Police Arrest Former Govt Official for Banking Law Violations
28/08/2019
Former foreign affairs secretary Perfecto Yasay Jr is reportedly accused of conspiring to obtain a $6.7mn loan for a company without reporting the loan to the central bank.
Capital / Liquidity
PBOC Sets Mortgage Rate Floor to Curb Risk
28/08/2019
The rate on mortgages for first-time home buyers must be at least the loan prime rate; for second-time home buyers it must be at least LPR plus 60bp.
AML / KYC
AUSTRAC Campaign Targets Illegal Money Transfer Dealers
28/08/2019
The campaign seeks to raise community awareness of the money laundering threat that unregistered money transfer dealers pose.
Fintech / Regtech
ACCC Invites Firms to Test Open Banking Data Sharing
27/08/2019
The ACCC is seeking participants to help it test the data-sharing ecosystem under the consumer data right, which was passed into law earlier this month.
Enforcement
ASIC Allows AFCA to Name-and-Shame Financial Firms
27/08/2019
ASIC says the move will enhance transparency and accountability of firms’ performance in complaints handling, and of AFCA’s own decision-making.
Australia to Introduce Best Interests Duty for Mortgage Brokers
27/08/2019
Under draft legislation released by the government, mortgage brokers that fail to act in the best interests of consumers will face fines of up to A$1.05mn.
Fintech / Regtech
China to Accelerate Development of Fintech Regulatory Framework
27/08/2019
The PBOC said it will accelerate the development of a regulatory framework for fintech in a bid to promote China as a world leader in financial technology.
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