ACCC Approves NAB Acquisition of Citi Consumer Business

26/11/2021

In its review, which focused on competition in the supply of credit cards, the ACCC found that the transaction “would not substantially lessen competition”.

Crypto / Digital Assets

US Regulators Pledge to Provide Clarity on Crypto Next Year

26/11/2021

The Fed, OCC and FDIC plan to provide clarity on whether certain crypto-related activities conducted by banks are “legally permissible”.

Crypto / Digital Assets

FSC Korea Seeks to Criminalise Crypto Market Manipulation

26/11/2021

Those who obtain unfair profits from crypto trading would face at least one year in prison and at least three times the amount gained in fines.

Capital / Liquidity

RBI Proposes Scheme to Rescue PMC Bank Depositors

25/11/2021

PMC Bank will be merged into Unity Small Finance Bank, which was set up on 1 November by financial services conglomerate Centrum Group and fintech firm Bharatpe.

Securities / Derivatives

MAS Proposes Amendments to the Business Trusts Act

25/11/2021

Business trusts will have to obtain and maintain information on beneficial ownership and disclose their CEOs’ interests in transactions.

BSP Issues Revised Corporate Governance Rules for FIs

25/11/2021

Non-Filipino citizens can become members of a bank’s board of directors, to the extent of foreign ownership in the institution.

Securities / Derivatives

SEBI Defers Implementation of New Margin Requirements

24/11/2021

New rules that require investors to have 50 percent of their margins in cash to trade in futures and options have been deferred to 28 February.

ESG / Sustainability

Malaysia SC Unveils Initiatives to Boost Corporate Governance

24/11/2021

The SC’s corporate governance strategic priorities for the next three years emphasise ESG fitness, diversity and agility of boards.

China Banks Directed to Ramp Up Lending for Property Projects

24/11/2021

Financial regulators have reportedly instructed banks to issue more loans to property firms for project development, and accelerate loan approvals.