Fintech / Regtech

SWIFT Applies Data Intelligence to Remove Payment Friction

01/09/2022

SWIFT says its new capability ensures payments will go through regardless of whether the parties have transacted with each other before.

Market Infrastructure

Bangladesh Bank to Enable FX Clearing via RTGS System

01/09/2022

Banks can clear USD, GBP, EUR, CAD and JPY through the RTGS system starting from 4 September. CNY clearing will be allowed “soon”.

AML / KYC

Iran Passes Law Authorising Use of Crypto for Imports

01/09/2022

The new law formally allows government and local businesses to use cryptocurrencies as payment for imports.

Capital / Liquidity

APRA Frees Westpac from Add-on Liquidity Requirement

01/09/2022

The liquidity add-on was imposed in 2020 in response to breaches which APRA said demonstrated weaknesses in the bank’s risk management and oversight.

Crypto / Digital Assets

Australia Launches Digital Finance Cooperative Research Centre

01/09/2022

Backed by industry, government and academia, the DFCRC will facilitate the development of the emerging digital finance sector.

Securities / Derivatives

Five Super Funds Fail APRA’s Second Performance Test

01/09/2022

Four of the five have now failed for a second time. Five other MySuper products that failed last year have now passed.

Securities / Derivatives

PCAOB Picks Chinese Firms for First Audits Checks – Report

31/08/2022

Alibaba, Netease, Baidu, JD.com and Yum China are among the first Chinese firms selected for the PCAOB’s audit checks in Hong Kong

AML / KYC

MAS Fines UOBKH for Business Conduct, AML Failures

31/08/2022

UOBKH failed to implement adequate controls for its corporate finance business and to ensure it was subject to internal audit.

Securities / Derivatives

Japan FSA Seeks to Make NISA Programme Permanent

31/08/2022

NISA is a programme for small investments that offers time-based exemptions from capital gains and dividend tax.