Big Picture

IMF Calls for Action to Boost Investment Fund Resilience

22/09/2021

Measures proposed in a new IMF staff paper include enhanced liquidity management tools, redemption frequency limits, and the use of swing pricing to disincentivise early exits.

Enforcement

Taiwan: Revised Financial Consumer Protection Act Take Effect

22/09/2021

The amendments raise the limits on compensation that can be awarded in consumer disputes without being subject to appeal.

ESG / Sustainability

Singapore: ASFI, WWF Launch Sustainable Finance Academy

21/09/2021

ASFI Academy will help ensure the financial sector workforce develops the skills needed to implement MAS’ guidelines on environmental risk management.

Capital / Liquidity

Hong Kong Further Extends Three Loan Support Schemes

21/09/2021

The 100% Personal Loan Guarantee Scheme, SME Financing Guarantee Scheme, and Pre-approved Principal Payment Holiday Scheme are being extended.

Fintech / Regtech

ACCC Approves NAB as Accredited Data Recipient Under CDR

21/09/2021

NAB is Australia’s second big four bank to become an accredited data recipient under the CDR regime, which underpins open banking.

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.

Market Infrastructure

BSP Issues Governance Policy for Operators of Payment Systems

21/09/2021

Payment system operators including banks and electronic money issuers have six months to comply with the requirements.

Crypto / Digital Assets

Philippine SEC Warns Against Dealing with Unlicensed Entities

21/09/2021

The SEC has warned against dealing with unlicensed forex brokers, crypto exchanges, and DeFi platforms among others.

Market Infrastructure

Canada Implements Financial Benchmarks Regulatory Regime

21/09/2021

CDOR is designated as a critical benchmark and Refinitiv Benchmark Services is designated as its administrator.