Market Infrastructure

BSP Issues Governance Policy for Operators of Payment Systems

21/09/2021

Payment system operators including banks and electronic money issuers have six months to comply with the requirements.

Crypto / Digital Assets

Philippine SEC Warns Against Dealing with Unlicensed Entities

21/09/2021

The SEC has warned against dealing with unlicensed forex brokers, crypto exchanges, and DeFi platforms among others.

Market Infrastructure

Canada Implements Financial Benchmarks Regulatory Regime

21/09/2021

CDOR is designated as a critical benchmark and Refinitiv Benchmark Services is designated as its administrator.

Fintech / Regtech

Vietnam to Create Fintech Sandbox for Banking Sector

21/09/2021

The central bank will coordinating with government departments and agencies to develop a decree to enable the sandbox.

Enforcement

HK Court Convicts Former Convoy Executives for Fraud

21/09/2021

Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.

ESG / Sustainability

BCBS Calls on Banking Sector to Enhance Cyber Defences

21/09/2021

Remote work arrangements and digital financial services have “enlarged banks’ attack surfaces”, creating opportunities for malicious actors, the BCBS said.

Securities / Derivatives

JSDA to Form Industry Panel to Review IPO Pricing Mechanism

20/09/2021

Startups say IPO prices are set too low prior to listing and that they have often surged on listing. Brokers say the gaps are caused by volatility.

Enforcement

FSS Korea to Appeal Ruling Nullifying Woori Chairman Ban

20/09/2021

The appeal will follow a court decision to nullify an FSS decision to ban Woori Financial Group chairman Sohn Tae-seung for three years.

Fintech / Regtech

BSP Grants Sixth Digital Bank Licence to PayMaya

20/09/2021

The seventh and final digital bank is likely to be an existing bank applying to convert into a digital bank, but approval has been delayed.