Fintech / Regtech

OJK Indonesia Urges Rural Banks to Digitalise Operations

25/02/2021

Efforts to digitalise are aimed at improving financial inclusion for ‘micro-entrepreneurs’ and other members of the unbanked or underbanked population in Indonesia.

Capital / Liquidity

Philippine SEC Issues Implementing Rules for ‘Bad Bank’ Law

25/02/2021

The implementing rules cover the creation of so-called ‘FIST corporations’, as well as the processes they will use to acquire, transfer and manage non-performing assets.

Market Infrastructure

SEBI, FinMin Order NSE to Explain Three Hour Trading Halt

25/02/2021

NSE had attributed the trading halt to issues with their links to two telecom service providers. An interim report is expected within 24 hours.

Hong Kong to Enhance Special 100% Loan Guarantee Scheme

25/02/2021

The maximum loan amount per enterprise, total loan ceiling, maximum repayment period, and duration of moratorium will be extended.

Enforcement

ASIC Offers Immunity to Market Misconduct Whistleblowers

25/02/2021

Under ASIC’s new immunity policy, individuals who have engaged with others to commit market misconduct offences can seek immunity by reporting the misconduct.

Enforcement

FSS Korea Orders Woori, IBK to Compensate Lime Investors

25/02/2021

The FSS will encourage banks and securities firms that sold frozen Lime funds to voluntarily settle disputes with other investors based rates set at the ruling.

AML / KYC

Singapore Police Set to Charge Suspect in Covid-19 Scam

24/02/2021

Last March, the suspect used the identity of a legitimate company to advertise and sell surgical masks and hand sanitisers that were never delivered.

Capital / Liquidity

FSC Korea to Tighten Liquidity Rules for Credit Finance Companies

24/02/2021

Specialised credit finance companies will be required to implement new best practice guidelines on liquidity risk management, enhance disclosures, and use less leverage.

Market Infrastructure

CBIRC Issues New Guidelines on Reputational Risk Management

24/02/2021

The guidelines set out four principles for all CBIRC-regulated financial institutions to incorporate in their reputation risk management systems.