Enforcement

SFC Bans Former Private Banker Over False Academic Qualifications

01/12/2021

The SFC considers the former relationship manager to not be fit and proper as her conduct was “plainly dishonest”.

Capital / Liquidity

RBI to Update Rules on Ownership of Private Sector Banks

01/12/2021

Promoters will be able to increase their long-run stakes in private sector banks from 15 to 26 percent. The capital requirement for a universal bank licence will be doubled.

Securities / Derivatives

Bursa Malaysia to Enhance Conflict of Interest Disclosure Rules

01/12/2021

Proposed amendments will require directors and senior managers of listed companies to disclose their interests in competing businesses.

Fintech / Regtech

ASX Opens First Industry Test Environment for CHESS Replacement

01/12/2021

ITE1 is open for software providers to test functional and non-functional workflows for the new equities clearing and settlement system.

Fintech / Regtech

MAS Grants Fourth Digital Payment Token Licence

30/11/2021

Crypto payments firm TripleA is the fourth company to receive a DPT licence in Singapore after FOMO Pay, DBS Vickers and Independent Reserve.

Enforcement

SAFE Fines Tenpay for Breaching Foreign Exchange Rules

30/11/2021

Tenpay failed to submit relevant materials and handle foreign exchange sales services in accordance with regulations.

India Proposes New Cross-border Insolvency Framework

30/11/2021

The framework will provide a mechanism for foreign creditors to obtain recognition of overseas proceedings in local courts.

Capital / Liquidity

RBNZ to Amend Connected Exposures Policy for Banks

30/11/2021

The RBNZ proposes to remove the aggregate gross exposure limit and to allow banks to recognise credit risk mitigations when measuring aggregate net exposures.

AML / KYC

AUSTRAC to Update Guidance on Reporting Cash Transactions

30/11/2021

A TTR will be required for each individual cash transaction of A$10,000 or more. Reporting entities will not need to combine transactions when submitting TTRs.