Fintech / Regtech

India’s GIFT City to Introduce Fintech Regulatory Sandbox

04/05/2022

The dedicated regulatory sandbox is part of government efforts to establish GIFT City as ‘world class’ fintech hub.

Market Infrastructure

US, Europe to Pilot Real-time Cross-border Payments This Year

03/05/2022

The IXB pilot service will initially support instant payments in the USD-EUR corridor, with a full-service offering expected in 2023.

Securities / Derivatives

China, US Discuss Logistics of Cross-border Audit Inspections

03/05/2022

Regulators are discussing the logistical and operational details for a new mechanism that will enable the PCAOB to visit China for audit inspections.

Capital / Liquidity

PBOC, CBIRC Issue Rules to Improve G-SIB Loss-absorbing Capacity

03/05/2022

The notice is aimed at facilitating the issuance of non-capital bonds with loss-absorbing capacity by Chinese D-SIBs.

AML / KYC

Korean Police Arrest Woori Employee for Embezzlement

03/05/2022

The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.

Securities / Derivatives

Taiwan FSC Allows Cross-institutional Data Sharing

03/05/2022

Information sharing will be allowed between FIs that do not have group relations, provided that the data sharing model is first reviewed and approved by the FSC.

AML / KYC

Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services

02/05/2022

MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.

PBOC Announces Launch of Two New Re-lending Facilities

02/05/2022

The PBOC will provide banks low cost funds which they can use to support innovative technology companies and institutions providing elderly care services.

AML / KYC

German Authorities Raid Deutsche Bank in Money Laundering Probe

02/05/2022

The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.