Market Infrastructure

BNM Issues New Regulatory Requirements for Merchant Acquirers

23/09/2021

The new requirements will ensure merchant acquiring services have measures in place to manage settlement risk, financial risk, fraud risk, technology risk and cyber risk.

Securities / Derivatives

New Beijing Exchange Sets Out Investor Eligibility Requirements

22/09/2021

Personal investors must have assets worth CNY 500,000 in securities and funds accounts, and at least two years of investment experience, to trade on the new exchange.

Enforcement

Japan FSA to Oversee System Improvements at Mizuho – Report

22/09/2021

An FSA team will directly oversee a system inspection and improvements at Mizuho following seven system failures at the bank this year.

Big Picture

IMF Calls for Action to Boost Investment Fund Resilience

22/09/2021

Measures proposed in a new IMF staff paper include enhanced liquidity management tools, redemption frequency limits, and the use of swing pricing to disincentivise early exits.

Enforcement

Taiwan: Revised Financial Consumer Protection Act Take Effect

22/09/2021

The amendments raise the limits on compensation that can be awarded in consumer disputes without being subject to appeal.

ESG / Sustainability

Singapore: ASFI, WWF Launch Sustainable Finance Academy

21/09/2021

ASFI Academy will help ensure the financial sector workforce develops the skills needed to implement MAS’ guidelines on environmental risk management.

Capital / Liquidity

Hong Kong Further Extends Three Loan Support Schemes

21/09/2021

The 100% Personal Loan Guarantee Scheme, SME Financing Guarantee Scheme, and Pre-approved Principal Payment Holiday Scheme are being extended.

Fintech / Regtech

ACCC Approves NAB as Accredited Data Recipient Under CDR

21/09/2021

NAB is Australia’s second big four bank to become an accredited data recipient under the CDR regime, which underpins open banking.

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.