Enforcement

ClearView Completes Advice Remediation Programme

20/09/2019

Financial compensation totalling A$730,000 was offered to 215 clients who were harmed by poor advice, while another 21 clients received non-financial remediation.

Capital / Liquidity

Bangladesh Banks Face Capital, Provisioning Shortfalls

20/09/2019

Recent policies to help delinquent borrowers have incentivised good borrowers to default, leading to a rise in NPLs that is threatening to overwhelm banks.

Fintech / Regtech

Tencent, Alibaba Refuse to Share Data to National Credit Database

20/09/2019

Tencent Credit and Alibaba’s Sesame Credit hold more customer data than any of their online lending peers, but they are not providing the data to the national credit database.

Capital / Liquidity

Vietnam Banks Ordered to Control Loans Backed by Savings Book

20/09/2019

The SBV says banks may not allow borrowers to use long term savings books as collateral for loans if they have no plans to use the capital.

Securities / Derivatives

Thailand, Cambodia Sign MoU on Cross-Border Listings

20/09/2019

A working group will be formed to implement mechanisms for cross-border equity offerings, dual listings and depositary receipts between the two countries.

Big Picture

Financial Firms Largely Unprepared for LIBOR Transition: Survey

19/09/2019

Although 84% of financial firms have a formal LIBOR transition plan in place, only 18%of them describe their programmes as ‘mature’, according to a new Accenture report.

Market Infrastructure

RBI Proposes to Directly Regulate Payment Gateways, Aggregators

19/09/2019

The paper proposes that payment gateways and payment aggregators be required to have a minimum net-worth of 1 billion rupees, among other requirements.

Enforcement

Australia Reintroduces Amnesty Bill for Unpaid Superannuation

19/09/2019

The bill will provide amnesty to employers who have underpaid superannuation up to 27 years ago, if they disclose their failures within two years and repay the full amount.

Enforcement

SAFE Blacklists FX Firms As Illegal Capital Outflows Increase

19/09/2019

SAFE has asked financial institutions to monitor for leveraged forex trading and blacklisted 43 FX firms amid signs that illegal capital outflows have been increasing.