Enforcement

ASIC Sues ANZ Over Home Loan Introducer Programme

27/11/2021

ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.

Securities / Derivatives

Korea FSS Asks Brokers to Prioritise Consumer Protection

26/11/2021

The FSS is reviewing a decision to penalise nine market-makers, taking into account “self-correcting measures” by individual firms.

ACCC Approves NAB Acquisition of Citi Consumer Business

26/11/2021

In its review, which focused on competition in the supply of credit cards, the ACCC found that the transaction “would not substantially lessen competition”.

Crypto / Digital Assets

US Regulators Pledge to Provide Clarity on Crypto Next Year

26/11/2021

The Fed, OCC and FDIC plan to provide clarity on whether certain crypto-related activities conducted by banks are “legally permissible”.

Crypto / Digital Assets

FSC Korea Seeks to Criminalise Crypto Market Manipulation

26/11/2021

Those who obtain unfair profits from crypto trading would face at least one year in prison and at least three times the amount gained in fines.

Capital / Liquidity

RBI Proposes Scheme to Rescue PMC Bank Depositors

25/11/2021

PMC Bank will be merged into Unity Small Finance Bank, which was set up on 1 November by financial services conglomerate Centrum Group and fintech firm Bharatpe.

Securities / Derivatives

MAS Proposes Amendments to the Business Trusts Act

25/11/2021

Business trusts will have to obtain and maintain information on beneficial ownership and disclose their CEOs’ interests in transactions.

BSP Issues Revised Corporate Governance Rules for FIs

25/11/2021

Non-Filipino citizens can become members of a bank’s board of directors, to the extent of foreign ownership in the institution.

Securities / Derivatives

SEBI Defers Implementation of New Margin Requirements

24/11/2021

New rules that require investors to have 50 percent of their margins in cash to trade in futures and options have been deferred to 28 February.