Capital / Liquidity

New Zealand Introduce Bill to Enhance Depositor Protections

28/09/2022

The legislation will introduce a deposit protection scheme, new supervisory powers for the RBNZ, and a new accountability framework for deposit takers’ directors.

Market Infrastructure

SEBI Developing New Settlement Process for Stock Market

28/09/2022

Under the new system, funds for secondary stock market transactions would be blocked until securities settlement is done.

Crypto / Digital Assets

DBS Rolls Out Crypto Services to 100,000 More Investors

28/09/2022

Accredited wealth clients are able to trade four cryptocurrencies on DDEx – Bitcoin, Bitcoin Cash, Ethereum, and XRP.

Crypto / Digital Assets

Korea FSS Finds More Suspicious Crypto-Linked FX Transactions

28/09/2022

FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.

Market Infrastructure

Indonesian Lawmakers Pass Personal Data Protection Law

28/09/2022

The law introduces GDPR-like concepts, grants data subjects greater control over their data, and allows penalties up to 2% of annual revenue.

ESG / Sustainability

ESMA Publishes Final Guidelines on MiFID II Suitability Requirements

28/09/2022

Firms will need to help clients understand the concept of sustainability preferences and explain differences between products with and without sustainability features.

AML / KYC

Malaysia Announces New Measures to Combat Financial Scams

28/09/2022

Malaysian banks will migrate SMS OTP to a more secure form of authentication, and further tighten detection rules and triggers to block scam-related transactions.

Enforcement

ASIC Finalises Guidance on Completing Timely Remediations

28/09/2022

ASIC says it should not have to oversee remediations in order for consumers to receive fair and timely outcomes.

Securities / Derivatives

NZ FMA Proposes to Update Guidance on Broker Obligations

28/09/2022

The FMA is proposing to update its 2014 guidance to align with regulatory updates and incorporate additional guidance for custodians.