Market Infrastructure

Australia to Introduce Regulatory Reforms for FMIs

09/06/2021

The new crisis management regime will allow the RBA to manage a failure at a domestic clearing and settlement facility, supported by a AUD 5 billion standing facility.

Enforcement

CBIRC Fines Four Banks for Property Lending Breaches

09/06/2021

Postal Savings Bank of China, China Merchants Bank, China Guangfa Bank and Shanghai Pudong Development Bank were fined a combined CNY 5.3 million.

Fintech / Regtech

HKMA Announces New Fintech Development Strategy

09/06/2021

The “Fintech 2025” strategy seeks the comprehensive adoption of technology in the financial sector by 2025 through a focus on five key areas.

AML / KYC

China Steps Closer to Law to Protect Against US Sanctions

09/06/2021

A second draft of legislation aimed at countering US sanctions has reportedly been filed and is expected to be voted on soon.

Securities / Derivatives

HKEX, FRC to Strengthen Collaboration on Financial Reporting Quality

09/06/2021

A new MOU establishes a collaborative framework which will ultimately provide better investor protection through high quality financial reporting.

Market Infrastructure

Standard-Setters Launch Plan to Improve Global Audit Quality

07/06/2021

Implementation of the plan will take three years and result in overall improvements to the international audit-related standard-setting system.

AML / KYC

Japan FSA Sets Hard Deadline for Full AML/CFT Compliance

07/06/2021

The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.

Taiwan Raises Cap on SME Loan Package

07/06/2021

The cap on the special loan package for SMEs is being raised from TWD 300 billion to TWD 400 billion, with room for further increases if necessary.

Securities / Derivatives

SEBI Allows Foreign Funds to Transfer Securities to IFSC Off-Market

07/06/2021

Off-market transfers lower the costs associated with relocating funds to Gift City and make it a more attractive investment destination.