BSP Raises Loan Limits to Bolster Project Finance

11/10/2021

The single borrower limit was increased to mobilise funding toward projects that support the Philippines’ economic recovery efforts and nation building.

Enforcement

S. Korea: Founder of Singapore Fintech Jailed for Fraud

11/10/2021

A South Korean court has sentenced the founder of a fintech investment firm Marvelstone Group to ten years of jail time on fraud charges.

Fintech / Regtech

ACCC Accredits Westpac as Data Recipient Under CDR

11/10/2021

ADRs are allowed to receive information from other data holders and offer products and services under the consumer data right regime.

Capital / Liquidity

BSP Proposes Prudential Requirements for Digital Banks

11/10/2021

The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.

Securities / Derivatives

SEBI Issues Swing Pricing Framework for Debt Funds

11/10/2021

During periods of market dislocation, investors will only be able to exit certain debt funds at 1-2 percent below the NAV.

AML / KYC

Singapore: Exemptions for Foreign Offices of FIs Take Effect

10/10/2021

Under the new ‘Branch Framework’, Singapore FIs have to assess whether their overseas representatives are acting on behalf of the Singapore office or the foreign office.

SEBI to Stop Use of Pool Accounts for Mutual Fund Transactions

10/10/2021

From 1 April 2022, investor money should be directly credited to the bank account of the mutual fund scheme when an investor purchases units.

Market Infrastructure

New Zealand Becomes Third in APAC to Raise Rates

08/10/2021

The RBNZ increased its official cash rate for the first time in seven years to contain inflationary pressures and cool the housing market.

Securities / Derivatives

SFC, HKMA Release Findings on Investment Product Sales

08/10/2021

Firms sold investment products with an aggregate transaction amount of HKD 5.7 trillion during 2020, with the participation of over 700,000 investors.