Australia Launches Review of AFCA’s Functions, Performance

25/02/2021

The Treasury will ascertain whether AFCA is operating effectively and achieving its objectives, and whether there is a need for a mechanism for reviewing the substance of its decisions.

Market Infrastructure

DTCC Proposes Move to T+1 in US Markets by Mid-2023

25/02/2021

In a new paper, DTCC outlines plans to modernise post-trade processes and facilitate an industry-wide shift to T+1 settlement in the equities market.

Enforcement

MAS Bans Former Insurance Broker for Dishonest Conduct

25/02/2021

The former insurance broker was banned for unauthorised selling of general insurance when he was only licensed to sell life policies.

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.