BOT Pushes for Fair, Transparent Pricing of Financial Products

06/04/2022

The BOT has issued guidelines on how firms should charge interest, service fees and penalties for financial products and services.

Market Infrastructure

FSB Applauds ‘Smooth Transition’ Away from LIBOR

05/04/2022

The FSB highlights a need to continue building liquidity in RFR-based products, use SOFR across global markets, and plan for the remaining USD LIBOR settings to cease.

AML / KYC

Singapore Banks to Station More Staff at Anti-Scam Centre

05/04/2022

While banks have been supporting the police’s Anti-Scam Centre for the past three years, only DBS currently has staff physically located inside the centre.

Enforcement

Korea: FSC, FSS Relaunch Special Investigations Team

05/04/2022

The team comprises officials from the FSC and FSS, who will be authorised to investigate illegal acts in the capital market more quickly.

APRA Advances to Phase 2 of Superannuation Data Transformation

05/04/2022

Phase 2 will deliver more data on retirement outcomes, performance, efficiency, governance, risk management practices, fund operations and industry risks.

HDFC to Seek Regulatory Approval to Merge Into Banking Unit

05/04/2022

The merger is made possible by regulatory guidelines issued last year which reduced the arbitrage NBFCs have enjoyed over banks while also allowing large NBFCs to become banks.

Securities / Derivatives

Thai SEC to Relax Rules on Mutual Fund Advertising

05/04/2022

The changes are being made to reduce regulatory burden and minimise duplication of regulations, the SEC said.

Enforcement

ASIC Launches Federal Court Proceedings Against Macquarie

05/04/2022

ASIC says Macquarie failed to properly detect and prevent unauthorised fee transactions by now-convicted former financial adviser, Ross Andrew Hopkins.

Fintech / Regtech

PBOC to Expand CBDC Pilot to Additional Chinese Cities

05/04/2022

The e-CNY has been tested in ten cities. The PBOC will extend the pilot to additional cities including Hangzhou, which will host the Asian Games in September.