Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
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.
Market Infrastructure
Hong Kong Virtual Banks Likely to Delay Launch – Report
18/09/2019
Hong Kong virtual banks are reportedly delaying plans to start promotional campaigns partly in response to city-wide protests, among other reasons.
Capital / Liquidity
RBI Increases Bank Exposure Limit to NBFCs
17/09/2019
The move aligns bank exposure limits for NBFCs with limits applicable for other types of counterparties, but Fitch says it is unlikely to lead to significant credit flows to the sector.
Market Infrastructure
Korean Banks Boost Spending of Cybersecurity, IT: BOK
17/09/2019
Banks are increasingly relying on outsourcing for cloud computing, which may become a potential vulnerability if adequate precautions are not in place.
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