Fintech / Regtech

ACCC to Launch CDR Sandbox to Support Innovation

30/11/2021

The sandbox aims to help current and prospective CDR participants build and test their solutions faster, and improve accuracy and quality.

Capital / Liquidity

RBI Imposes Restrictions on Urban Cooperative Bank

30/11/2021

Malkapur Urban Bank will continue to have the business and operational restrictions in place until its financial position improves.

Securities / Derivatives

SEBI Sets Out Guidelines for Operating Silver ETFs

30/11/2021

Silver ETFs will have to allocate at least 95 percent of assets to silver and silver-related exchange-traded commodity derivatives.

AML / KYC

HK ICAC Arrests Nine in Corruption Probe Involving Macau Firm

30/11/2021

CPAs and audit staff are suspected of accepting bribes to compile a false accountants’ report that was submitted to HKEX for a main board listing.

Enforcement

ASIC Files Multiple Court Proceedings Against Westpac

30/11/2021

Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.

Enforcement

APRA Imposes Capital Surcharge on Heritage Bank

29/11/2021

Heritage Bank will also have to complete a remediation programme to address governance and risk management concerns.

MAS, IBF Offer Support to Enhance Family Office Skillsets

29/11/2021

New skills maps have been launched as a resource for training providers and FIs to design family office-related training.

Market Infrastructure

CPMI, IOSCO Consider Client Clearing Access Models

29/11/2021

Improving access to client clearing is “critical” to ensuring all standardised OTC derivatives contracts are cleared through CCPs.

Market Infrastructure

European Commission Proposes to Strengthen Supervisory Bodies

29/11/2021

In the aftermath of the Wirecard scandal, German regulator BaFin was accused of being beholden to banking industry lobbyists and the finance ministry.