Market Infrastructure

Myanmar to Open Applications for Foreign Bank Licensing

09/11/2019

Branch licences will allow wholesale banking activities, while subsidiary licences will permit retail banking services in addition to wholesale banking.

FMA New Zealand Apologises for Privacy Breach

09/11/2019

The FMA identified 27 instances where complaints documents were accessed by internet searches through a portal on its website. Of these, 6 contained personal information.

Fintech / Regtech

RBI Invites First Sandbox Applicants to Test Retail Payments Products

09/11/2019

Initially, mobile payment services, offline payment solutions, and contactless payments will be considered for inclusion in the regulatory sandbox.

Enforcement

Former HKTV Staff Member Jailed for Insider Dealing

09/11/2019

HKTV’s former senior regulatory affairs manager made over HK$160,000 in profit from trading on insider information in December 2013.

Market Infrastructure

APRA Launches Superannuation Data Transformation Project

08/11/2019

The initiative aims to drive better industry practices, enhance the consistency of reported data, and make it easier to compare fund and product performance.

Market Infrastructure

Thailand Eases Capital Controls to Stem Currency’s Rise

08/11/2019

Investors are allowed to invest up to $200,000 in foreign securities without going through a Thai intermediary, and restrictions on outward fund transfers have been eased.

Enforcement

Former PBOC Official Under Probe for ‘Legal Violations’

08/11/2019

Reports indicate the investigation might be related to third-party payment licences issued by the central bank between 2011 and 2015.

Market Infrastructure

China Extends Use of Bond Collateral to All Domestic Futures

08/11/2019

The CCDC has signed a memorandum of cooperation with the SHFE, ZCE, DCE, CFFEX, and Shanghai’s INE, building on previous efforts to enable the use of bonds as collateral for futures trading.

AML / KYC

Malaysia Proposes Cash Payment Limit to Curb Financial Crime

08/11/2019

The central bank says any action aimed at circumventing the proposed 25,000 ringgit cash transaction limit would be considered an offence for both the payer and payee.