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AML / KYC
RBI Orders Paytm Payments Bank to Stop Onboarding Clients
19/03/2022
The bank reportedly violated rules by allowing data to flow to servers overseas and did not properly verify thousands of customers.
Fintech / Regtech
Ripple Calls on Korea to Further Develop Digital Assets Framework
19/03/2022
New policy paper calls for the implementation of a “risk-sensitive” digital asset regulatory framework to provide certainty and encourage innovation in the sector.
Market Infrastructure
European Commission Proposes Enhancements to CSDR
19/03/2022
The proposal seeks to provide more proportionate and effective rules for CSDs, while also facilitating their ability to offer cross-border services.
Australia Releases Terms of Reference for Quality of Advice Review
18/03/2022
The review presents will assess how the regulatory framework for financial advice could deliver better outcomes for consumers.
Securities / Derivatives
Thai SEC, World Bank Partner on Capital Markets Development
18/03/2022
The study will help the SEC ensure the capital market is responsive to the needs of investors and serves as a key mechanism to drive the economy towards sustainable growth.
Market Infrastructure
ASIC Expresses “Significant Concern” Over 4-Hour Outage at ASX
18/03/2022
After the incident on Thursday, ASIC said it views the outage with “significant concern” due to its “significant impact” on the market, market participants and investors.
Fintech / Regtech
BCBS Assesses Bank Use of AI & Machine Learning
18/03/2022
The BCBS is exploring banks’ use of AI/ML, specifically in the areas of explainability, governance, and resilience and financial stability.
Capital / Liquidity
RBNZ Proposes to Allow Mutual Banks to Issue Capital Instruments
18/03/2022
Mutual banks are currently unable to issue CET1 capital instruments, making it difficult for them to raise loss-absorbing capital, restricting their lending growth, and impairing their ability to compete.
China Shelves Plans to Expand Property Tax Trial
18/03/2022
There are “no suitable conditions” to pilot the property tax reform in more cities this year, China’s finance ministry said.
Market Infrastructure
SGX Selects Tata Consultancy Services to Power GIFT Connect
17/03/2022
The GIFT Connect system will permit SGX members to place orders on NSE IFSC using FIX/proprietary APIs or the TCS BaNCS dealing terminal.
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