Conduct, Culture & Accountability

NAB Provisions Extra A$750mn for Customer Refunds

19/04/2019

The additional provisions reflect expected payouts for NAB’s employed advisers, and the costs to review advice provided by its self-employed adviser network.

AI Risk & Governance

S. Korea Passes Law Allowing Robo Advisers to Manage Funds

18/04/2019

Korea is allowing robo advisers to operate funds, provided they are managed in line with disclosed objectives and have security breach prevention measures in place.

Cloud & Infrastructure

S. Korea FSC Accepts First Nine Fintech Sandbox Participants

18/04/2019

South Korea’s financial regulator has announced the first nine fintech services that it will allow to operate in its regulatory sandbox.

Structural Regulation

SSE Publishes Rules for Sponsors of Sci-Tech Board IPOs

18/04/2019

IPO sponsors will be required to hold stakes of 2-5% in the companies they help list on Shanghai’s new science and technology board.

Clearing & Post-Trade

Settlement Workflow Needs to be Fully Automated – DTCC

18/04/2019

Settlement processes are attracting more attention as regulators require shorter and more certain settlement, with potential penalties for noncompliance.

Credit Risk

China’s New P2P Rules Could Shut Out 90pc of Platforms

17/04/2019

Only 100 P2P lending platforms are expected to qualify for new licences under the new registration system set to be introduced later this year.

Credit Risk

BOK, FSS Launch Joint Audit into Major Banks’ Lending Practices

17/04/2019

The focus of the joint audit will be on the small business lending practices at Shinhan Bank, KB Kookmin Bank, Woori Bank and KEB Hana Bank.

Capital Adequacy

S. Korea Basel III Adoption is Credit Negative – Moody’s

17/04/2019

The reforms will lower the risk weights Korean banks use, resulting in reduced risk-weighted assets and freed-up capital, which will likely be used for new loans or to pay out dividends.

Payments & Settlements

South Korea to Debut Open Banking in December

17/04/2019

Following two months of industry deliberation, the FSC has said the new open banking system will be piloted in October, and fully implemented in December.