Securities / Derivatives

Bursa Allows Investors to Accept General Offers Electronically

07/10/2021

Previously, investors were required to physically submit a transfer form to their brokers and an offer document for acceptance to the share registrar.

AML / KYC

Germany’s BaFin Fines N26 Over Weak AML Controls

07/10/2021

The €4.25mn fine was paid in July but only made public by BaFin on 29 September. N26 says it already addressed the problems.

Australia Drafts Rules for Financial Advisor Discipinary Matters

07/10/2021

The regulations prescribe when ASIC must refer disciplinary matters to the single disciplinary body and which sanctions must be included on the Financial Advisers Register.

Fintech / Regtech

PFMI Applies to Global Stablecoins, CPMI & IOSCO Confirm

07/10/2021

The transfer function of a stablecoin arrangement is “comparable” to the transfer function performed by other types of financial market infrastructures.

AML / KYC

HK ICAC, FRC to Collaborate on Financial Market Malpractice

07/10/2021

The new MoU sets out a framework for cooperation, covering case referrals, joint investigations, information exchange, mutual investigative assistance and training.

Market Infrastructure

EDPB Issues Opinion on Adequacy of Korea Data Protection Regime

07/10/2021

The EDPB says Korea’s data protection framework presents “numerous similarities” to Europe’s, but certain aspects may require “a closer look and clarification”.

Capital / Liquidity

APRA Unveils Initial Measures to Contain High Risk Lending

06/10/2021

Banks should operate with a mortgage serviceability buffer of at least 3 percentage points over the loan interest rate, and control lending at high debt-to-income ratios.

Fintech / Regtech

China to Regulate Algorithms Use, Punish Misuse

06/10/2021

The new guidance warns that companies will be held accountable for misusing algorithms. An algorithm registration system will be established.

Capital / Liquidity

Derivatives Are “Essential” to Carbon Markets: ISDA

06/10/2021

Regulatory action is needed to address disproportionately high capital requirements that would be imposed on carbon certificates by FRTB.