Enforcement

Australian Court Imposes 20-Year Ban on Mayfair 101 Director

22/04/2021

James Mawhinney is prohibited from promoting and raising funds from the public through financial products for 20 years.

AML / KYC

Philippines: PhilSys National ID System Draws 28m Registrations

22/04/2021

The issuance of PhilSys ID cards is expected to start within 2021, eventually replacing most other forms of government-issued ID.

Market Infrastructure

ARRC Outlines Principles for Forward-Looking SOFR Term Rate

22/04/2021

The ARRC said it is seeking to provide greater clarity on the likelihood and potential timing of a recommended SOFR term rate for certain uses.

Securities / Derivatives

SGX Launches New FFA, Futures For Managing Freight Risk

21/04/2021

The new contracts offer participants more precise hedging tools as a recovery drives demand for iron ore and minor bulks, SGX said.

RBI to Review Efficacy of Regulatory Framework for ARCs

21/04/2021

The RBI has set up an expert panel that will review the role of asset reconstruction companies in the resolution of stressed assets.

Sanctions

Australia Issues Draft Bill on Financial Advice Reforms

21/04/2021

The bill will expand the role of ASIC’s Financial Services and Credit Panel so that it operates as the single disciplinary body for financial advisers.

AML / KYC

Taiwan Launches ‘MyData’ Platform With 15 Banks

20/04/2021

The platform allows consumers to use personal data stored by government agencies to facilitate their access to financial services.

Securities / Derivatives

ISDA to Consolidate Interest Rate Derivatives Definitional Book

20/04/2021

The new 2021 ISDA Interest Rate Derivatives Definitions will be published on 17 May, with target implementation scheduled for October.

Capital / Liquidity

Bangladesh Bank Issues Guidelines on ‘Experimental’ IRRBB Adoption

19/04/2021

To facilitate the full implementation by 30 June 2024, banks are asked to arrange for the experimental adoption of the guidelines by 30 June 2021.