Fintech / Regtech

Australia to Regulate Digital Payment Providers

12/10/2023

The RBA will regulate new and emerging payments systems the same way as credit cards, EFTPOS and other transactions.

Securities / Derivatives

China State Fund Starts Moving to Boost Stock Market

12/10/2023

State-controlled Central Huijin Investment increased its stake in China’s big four banks and plans to continue buying shares for the next six months.

Securities / Derivatives

China Restricts Overseas Trading by Domestic Investors

12/10/2023

Cross-border securities broking, securities lending, fund sales and investment consulting for domestic investors are all prohibited.

Crypto / Digital Assets

JPMorgan Chase Launches ‘Tokenized Collateral Network’

12/10/2023

The first live transaction involved the use of tokenised shares in a BlackRock MMF as collateral in a bilateral OTC derivatives trade with Barclays.

Capital / Liquidity

RBI to Extend PCA Framework to Government NBFCs

12/10/2023

The RBI will extend the PCA framework to government NBFCs, except those in the “base layer”, from 1 October 2024.

SEBI Calls on AIFs to Develop and Adopt Code of Conduct

12/10/2023

The industry body for alternative investment funds would help to address their use by regulated entities to circumvent regulations.

Enforcement

Goldman Sachs Sues Malaysia Over 1MDB-related Dispute

12/10/2023

The two sides are in disagreement over whether Goldman must make an interim payment against a guarantee it provided in its 2020 settlement with Malaysia.

Enforcement

Kiwibank Fined for Overcharging Transaction Fees

12/10/2023

The court said the relevant conduct involved “negligence, and no intention to deprive customers of their entitlements.”

Enforcement

SFC Bans Investment Banker for Seven Years for Sponsor Failures

12/10/2023

The SFC said there was a need to send a “strong deterrent message” that failures of sponsors and sponsor principals will not be tolerated.