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.

Chinese Regulators Ask Banks to Limit Property Lending

13/09/2019

Banks with real estate loans exceeding a certain level are being given window guidance telling them to limit lending to property developers and homebuyers.

Enforcement

AFCA to Start Naming Financial Firms in October

13/09/2019

The move is aimed at increasing transparency and accountability in the financial sector, which will also enhance consumer confidence.