Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Big Picture
Moody’s Becomes Second Agency to Downgrade Hong Kong Outlook
17/09/2019
Moody’s says the downgrade of Hong Kong’s outlook to negative is the result of a shift in its equilibrium with China, in addition to the ongoing protests in the city.
Market Infrastructure
Australia Passes Bill to End Conflicted Remuneration Despite Pushback
16/09/2019
The Association of Financial Advisers says thousands of clients will be worse off without grandfathered commissions, and that financial advisers need more time to adjust.
Capital / Liquidity
RBI Lowers Risk Weight for Consumer Loans
16/09/2019
The move will reduce the amount of capital banks need to set aside as provisioning for consumer loans, effectively reducing the cost of lending.
Fintech / Regtech
Australia Establishes Senate Committee on Fintech, Regtech
16/09/2019
The committee will inquire into the opportunities of fintech and regtech, and benchmark Australia’s environment for innovation against comparable global regimes.
AML / KYC
RBI Orders Banks to Review Controls on Internal Accounts
16/09/2019
Transitory accounts at bank branches are being used to provide unauthorised overdrafts to avoid default classification on loans, and to mask unexplained cash deposits.
Capital / Liquidity
RBI Proposes New Rules for Small Finance Bank Licensing
16/09/2019
Under the new guidelines, payment banks, NBFCs, microfinance institutions and local area banks will be able to convert into small finance banks.
Capital / Liquidity
Taiwan FSC to Ease Calculation Method for D-SIB Capital
16/09/2019
The move follows push back from some banks, saying that the higher capital buffer required of D-SIBs could raise funding costs and make them less competitive.
Securities / Derivatives
KRX Introduces Paperless Securities System
15/09/2019
Starting 16 September, all listed stocks and bonds must be issued and registered electronically, and no longer exist in paper form.
Market Infrastructure
Australia Issues Follow-up Paper on ISO 20022 Migration for Payments
14/09/2019
The paper summarises the responses from the April consultation and puts forward potential implementation options for consideration.
Enforcement
ASIC Bans Lending Model Found to Cause Consumer Detriment
13/09/2019
ASIC is using its product intervention power to end a practice that has to date enabled payday lenders to charge fees up to 1000% of the loan amount.
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