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.

ESG / Sustainability

SGX RegCo Announces Sustainability Training Courses for Directors

17/03/2022

Board directors of SGX listed equity issuers are required to undergo mandatory sustainability training and provide confirmation in sustainability reports.

Enforcement

Seoul Court Upholds FSS Reprimand Against Hana Vice Chair

17/03/2022

The court ruled that Hana Financial Group vice chairman Ham Young-joo was responsible for failing to protect retail investors from high risk financial products.