Enforcement

S. Korea to Name-and-Shame Consumer Protection Wrongdoers

23/07/2018

Financial firms that have neglected consumer protection to be named in list published this month, in an effort to hold them more accountable.

Capital / Liquidity

S. Korea Credit Unions Toughen Mortgage Lending

22/07/2018

Credit unions will apply stricter lending calculations for home mortgages starting this week, as the government tries to rein in rapid growth in household debt.

Capital / Liquidity

MAS Consults on Resolution Regime Amendments

21/07/2018

Amendments include introduction of a contractual recognition requirement into financial contracts governed by foreign laws, the statutory bail-in regime, and creditor compensation framework, among others.

Crypto / Digital Assets

Japan FSA Reorganises to Meet Fintech Challenge

19/07/2018

Newly created Strategy Development and Management Bureau responsible for financial policy, fintech, cryptocurrencies, money laundering, as well as administraitive duties and inspections at financial institutions.

Market Infrastructure

MAS, HKMA Commit to FX Global Code

30/05/2018

Over 200 global FX market participants have committed to the Code to maintain status as central bank counterparties.

Capital / Liquidity

MAS Raises Bank Deposit Insurance Protection 50pc

21/05/2018

Deposit Insurance Scheme coverage to increase to protect up to SGD75,000 per depositor, up from SGD50,000, starting from 1 April 2019.

Market Infrastructure

UPDATED – Myanmar Approves Formation of First Credit Bureau

18/05/2018

Joint venture between banks association and Singapore-based ACB Holdings to establish credit bureau will enable banks to better assess loan risks.

Enforcement

China Fines Three Banks a Combined CNY180 million

10/05/2018

China’s banking and insurance regulator has imposed fines on China Merchants Bank, Shanghai Pudong Development Bank and Industrial Bank for various violations.

Enforcement

CBA Settles Bank Rate Manipulation Charges for A$25mn

10/05/2018

The bank acknowledges it manipulated bank bill swap rates on five occasions and indulged in “unconscionable conduct” in its A$25 million settlement with ASIC.