APRA to Enhance Standards on Superannuation Member Outcomes

22/09/2023

Deputy chair Margaret Cole said updating SPS 515 was one of APRA’s most important policy priorities in superannuation.

Capital / Liquidity

RBI Extends Basel III Requirements to National Financial Institutions

22/09/2023

The five All India Financial Institutions will have to comply with Basel III capital adequacy requirements from April 2024.

AML / KYC

Assets Involved in Singapore Money Laundering Case Reach S$2.4 Billion

22/09/2023

Singapore police say the assets involved in the case now involve S$2.4bn, which is more than twice the amount initially reported in August.

Crypto / Digital Assets

Thai Digital Assets Exchange Set to Launch First Investment Token

22/09/2023

The investment token is backed by three Bangkok luxury condominium projects. The ICO raised about THB 2.4 billion (USD 67 million).

Capital / Liquidity

MAS Finalises Framework for Designating Systemically Important Insurers

22/09/2023

The inaugural list of D-SIIs includes AIA Singapore; Income Insurance; Prudential Assurance; and Great Eastern Life.

ESG / Sustainability

HKMA Announces Launch of Green Fintech Competition

21/09/2023

Interested firms will need to submit a market-ready solution for at least one of four themes by 20 October 2023.

Enforcement

Korea: FSS Uncovers More Embezzled Funds at BNK Kyongnam Bank

21/09/2023

The FSS determined that around $223mn was embezzled by a bank employee, more than five times the amount initially reported.

RBI Expands Scope of Data Quality Benchmarking Requirements

21/09/2023

Credit information companies directed to establish data quality index for commercial and microfinance segments.

New Zealand Issues Guidance on Helping Vulnerable Customers

21/09/2023

Financial service providers should be “proactive” about identifying and helping customers who are experiencing, or likely to experience, financial difficulty.