Enforcement

ASIC Sues Payday Lender Over ‘Prohibited’ Fees

09/06/2022

The case involves over 670,000 contracts entered into by Sunshine Loans that included an amendment or rescheduling fee that is not permitted.

Crypto / Digital Assets

BOE Publishes Primer Explaining Plans for Possible CBDC

09/06/2022

The BOE will seek views from the public later this year about the possible issuance of a CBDC in the “second half of the decade” at the earliest.

Capital / Liquidity

RBI Issues Standard Asset Provisioning Rules for Large NBFCs

09/06/2022

The new provisioning rules are part of a new regulatory framework for NBFCs that takes effect on 1 October.

Crypto / Digital Assets

NYDFS Issues Regulatory Guidance for Stablecoin Issuers

09/06/2022

The guidance outlines criteria specifically addressing stablecoin redeemability, asset reserve requirements, and independent audit requirements.

Enforcement

Two Taiwan Banks Fined Over Misappropriated Customer Funds

09/06/2022

Mega Bank and Huanan Bank were each fined TWD 4 million fine for internal control failures which allowed cashiers to misappropriate customer funds.

Securities / Derivatives

Shanghai Bourse Streamlines Process for Credit Bond Issuance

09/06/2022

The SSE says the enhanced review process for credit bond issuance and listing is simpler, more clear, and more transparent.

Fintech / Regtech

Bangladesh Bank Introduces New Facility to Finance Microloans

09/06/2022

Under the refinancing scheme, banks will be able to use central bank funds to provide low-cost small loans to individual customers.

Market Infrastructure

HKEX Issues Final Guidance Ahead of VaR Platform Launch

09/06/2022

The information package will help clearing participants make final preparations for the launch of the new new risk engine on 13 June.

Crypto / Digital Assets

US SEC Reportedly Probing Binance 2017 Token Offering

09/06/2022

The SEC is also investigating market making companies owned by Binance’s CEO and whether company insiders may have engaged in trading abuses.