Fintech / Regtech

PBOC Introduces New Business Reporting Rules for Payment Firms

02/09/2021

Nonbank payment firms must report new products and services, stock market listings, capital increases and other activities classified as ‘significant matters’.

Enforcement

Mizuho Unable to Identify Cause of System Failure

02/09/2021

In a report to the FSA, Mizuho says it will revamp its system restoration procedures, review its customer response measures, and reassess its core banking system.

Securities / Derivatives

SAFE Assesses Bank Processes for Managing FX Volatility

02/09/2021

Regulators are said to be preparing for policy normalisation in major developed markets and for stimulus measures to end, which could prompt currency volatility.

Market Infrastructure

AFMA Calls For Speedy Passage of OBU Legislation

01/09/2021

Delays in passing legislation to reform the Offshore Banking Unit regime could harm Australia and undermine how it is perceived by foreign investors.

Fintech / Regtech

RBI Halts Plan to Allow New Umbrella Entities in Retail Payments

01/09/2021

The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India’s data localisation rules.

Capital / Liquidity

Bangladesh Bank Extends Policy on Loan Classification Leniency

01/09/2021

Borrowers will not be considered in default if they repay 25 percent of their loan instalments until December this year.

Securities / Derivatives

CSRC to Eliminate “Fake” Private Equity, Venture Capital Funds

01/09/2021

CSRC chairman Yi Huiman said “fake” private equity funds that are sold to the general public instead of targeted investors will be eliminated.

Securities / Derivatives

ICE Futures Singapore to Launch Micro US, Europe Index Futures

01/09/2021

The Micro MSCI USA and Micro MSCI Europe Index futures contracts will begin trading on ICE Futures Singapore from 11 October 2021.

ESG / Sustainability

LSEG Launches Sustainable Finance Innovation Unit in Singapore

01/09/2021

The new unit is supported by MAS and will focus on creating sustainable finance capabilities across Singapore’s fintech ecosystem.