Fintech / Regtech

DTCC to Launch DLT-Based Settlement Platform in Q1 2022

15/09/2021

Project Ion will create an alternative clearance and settlement option for US equity markets that leverages distributed ledger technology.

Capital / Liquidity

Vietnam Extends Debt Rescheduling as Bad Debts Pile Up

15/09/2021

The SBV is allowing lenders to extend the repayment term for customers by six months more months and granting more time for overdue debts to be restructured.

Enforcement

Hong Kong ICAC Files Criminal Charges Against Former AXA Agents

15/09/2021

Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.

Enforcement

PCAOB Fines KPMG Australia Over Training-related Misconduct

15/09/2021

Cheating in online training tests was found to be widespread within the audit practice. KPMG Australia sanctioned 1,131 individuals.

Capital / Liquidity

CBIRC Drafts Liquidity Risk Management Rules for WMPs

15/09/2021

Wealth management firms must continually monitor liquidity risk in wealth management products as well as the assets in which they invest.

Market Infrastructure

HKEX to Roll Out New Market Access Platform on 27 September

15/09/2021

The change is expected to improve latency, deliver higher performance, and provide greater flexibility to implement new functionalities in the future.

Enforcement

SEBI Settles YES Bank Case of Selective Disclosures

15/09/2021

YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.

Big Picture

Australia Can Do More to Facilitate Sustainable Recovery: OECD

15/09/2021

The OECD recommends the creation of a roadmap for improving reporting of climate-related risks by listed companies and financial institutions.

Capital / Liquidity

MAS Issues Draft Standards for Market Risk Capital

15/09/2021

MAS seeks feedback on draft provisions in Notice 637 relating to market risk capital and capital reporting requirements.