Enforcement

New Zealand: Class Action Filed Against ANZ, ASB

04/10/2021

The class action reportedly involves interest and fees ANZ and ASB were not entitled to charge due to breaches of their disclosure obligations.

Securities / Derivatives

Taiwan FSC Not Considering Introducing SPAC Listings

03/10/2021

The practice of allowing companies to go public without any actual business or revenue is in conflict with practices in Taiwan, said the FSC’s Kuo Chia-chun.

Cambodia Central Bank Introduces Overnight Lending Facility

03/10/2021

The industry has welcomed the MLF as a measure that will allow FIs to support their operations, protect the financial sector, and continue lending.

Customers Not Informed in Premium Financing Arrangements

03/10/2021

The HKMA and IA found in joint inspections that customers may not be sufficiently informed about the potential impact of premium financing arrangements.

Capital / Liquidity

RBI Removes Indian Overseas Bank From PCA Framework

03/10/2021

The RBI said Indian Overseas Bank is no longer in breach of the PCA parameters. Only Central Bank of India remains under the PCA framework.

AML / KYC

PBOC Directs Banks to Offer ‘Simple’ Account Opening

03/10/2021

Banks are asked to relax documentary requirements and provide simple personal account opening services, making use of external data to verify customer identities.

Securities / Derivatives

SGX Adds RFQ Functionality for FX Derivatives on OTC Platform

03/10/2021

The RFQ function allows market participants to negotiate and transact block trades in FX futures and options on the Titan OTC Pro platform.

Big Picture

FMSB Offers Guidance on Mitigating Risks of Hybrid Working

02/10/2021

In a new Spotlight Review, the FMSB outlines steps firms can take to promote equivalent conduct outcomes in a hybrid environment.

Crypto / Digital Assets

MAS Grants Two New Licences to Provide DPT Services

02/10/2021

DBS Vickers and Independent Reserve have received authorisation under the PSA to provide digital payment token services.