Securities / Derivatives

SC, Bursa Malaysia Grant Additional Relief for Listed Issuers

17/02/2021

Listed issuers allowed an automatic 1-month extension to prepare financial statements. Those impacted by Covid-19 are granted more time to regularise operations.

Korean Banks to Extend Loan Payment Deferment Programme

17/02/2021

Following talks with FSC Chairman Eun Sung-soo, five major banking groups agreed to extend the loan deferment programme until September.

Securities / Derivatives

RBI Allows Banks to Post Margin Onshore for Offshore Clients

17/02/2021

AD Cat-I Banks may post and collect margin in India for a permitted derivative contract entered into with a person resident outside India.

Enforcement

ASIC Seeks Penalties from CBA for Overcharged Interest

17/02/2021

Due to a systems error, CBA charged more than 1,510 customers a higher interest rate than they were advised, amounting to A$2.2 million in overcharged interest.

Australia: Licencing Regime for Debt Management Firms Wins Support

17/02/2021

The ABA suggests that ASIC be charged with supervising fee structures of debt management firms to further protect consumers, among other recommendations.

Enforcement

ASIC Issues Update on Advice Compensation Paid by Banks

16/02/2021

Australia’s largest financial institutions have paid over A$1.24 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.

AML / KYC

Bangladesh Launches Online Account Opening for Stock Investors

16/02/2021

The new system will reduce the time it takes for investors to open an account and minimise the number of accounts opened using fake information, BSEC said.

Capital / Liquidity

RBI Establishes Expert Committee to Enhance UCB Resilience

16/02/2021

The committee will take stock of existing regulatory measures and their impacts and recommend other suitable measures to strengthen the sector.

Fintech / Regtech

S. Korean Law to Help Reverse Mobile Payments Made in Error

16/02/2021

New legislation set to take effect in July will task the KDIC with helping users of mobile payment apps to retrieve funds that are transferred in error.