Capital / Liquidity

More Work Needed on Resolution Plans for CCPs, Insurers: FSB

09/12/2022

The FSB said resolution planning for G-SIBs is maturing but more progress is needed on the development of resolution plans for CCPs and insurers.

Fintech / Regtech

Australia to Expand CDR to Enable Action Initiation

08/12/2022

Under a new bill in Parliament, consumers will be able to instruct accredited third parties to initiate CDR‑powered actions on their behalf.

Securities / Derivatives

IFSCA Mulls Introduction of VCC Structure in GIFT City

08/12/2022

An expert committee set up by the IFSCA in 2020 has proposed a legal framework for introducing the VCC structure for funds operating in GIFT City.

China Tightens Regulations on the Use of the Word “Bank”

08/12/2022

Banks and insurers are required to report entities that are discovered using the word “bank” illegally, and may not provide services to such entities.

Capital / Liquidity

RBI Issues Revised Regulatory Framework for UCBs

08/12/2022

The four-tiered regulatory framework for UCBs will allow the RBI to prescribe more differentiated requirements based on size.

Enforcement

Philippines Jails Former Bankers for Creating False Loans

08/12/2022

Former chief operating officer and former compliance officer of now-defunct Orani Rural Bank created fictitious loans by falsifying documents.

ESG / Sustainability

BOT, UK Government Agree to Cooperate on Sustainable Finance

08/12/2022

The UK and BOT will work together to improve financial inclusion, as well as promote sustainable finance and sustainability-related disclosures in the Thai financial sector.

Enforcement

MAS Bans Former UOB, OCBC Representative for 15 Years

08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.

ESG / Sustainability

Banks Get New Guidance on Financing Net Zero in Agriculture

08/12/2022

The new guidance sets out four key steps for setting agricultural emissions targets and calls on banks to engage with farmers on sustainable strategies.