Enforcement

AFCA Finalises Over 18,000 Complaints in Four Months

08/03/2019

Australia’s four months old ‘one stop shop’ for financial services dispute resolution has finalised 18,390 complaints, yielding more than A$54mn in awards to consumers and small businesses.

Securities / Derivatives

Shanghai Exchange Signals Possible End-May Launch for New Tech Board

08/03/2019

The SSE gave its first indication of a launch date for the new science and technology board in a WeChat post, saying the trading system will be ready at the end of May.

Securities / Derivatives

S. Korea FSC Chair Renews Call to End Stock Transaction Tax

08/03/2019

Lawmakers want the securities transaction tax abolished. The government want a more gradual approach. FSC chairman Choi Jong-ku welcomes either discussion.

Fintech / Regtech

Malaysia Consults on Frameworks for ICOs, Property Crowdfunding

08/03/2019

The ICO framework covers issuer eligibility, transparency in disclosures, and utilisation of proceeds. The property crowdfunding framework was first announced in Budget 2019.

Securities / Derivatives

China Allows IMF Access to Domestic Markets Through RQFII

08/03/2019

The CSRC said it made the decision after receiving an application from the IMF, whose RQFII investment quota has not yet been revealed.

Market Infrastructure

MAS Enhances Guidelines on Technology Risk, Business Continuity

08/03/2019

Both guidelines under consultation continue to emphasise the importance of risk culture, and the roles of the board and senior managers in technology risk and business continuity management.

AML / KYC

APRA, AUSTRAC to Engage Regtechs on Solution Development

08/03/2019

APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.

Big Picture

S. Korea FSC Unveils 2019 Financial Policy Roadmap

08/03/2019

Highlights will include measures to accelerate financial innovation, approve online-only banks, launch a regulatory sandbox, and strengthen consumer and investor protection.

Market Infrastructure

Japan FSA Official Lays Out G20 Financial Sector Agenda

07/03/2019

Under Japan’s Presidency this year, the G20 financial sector agenda will centre on addressing market fragmentation, technological innovation and the problems of aging societies.