Fintech / Regtech

Rakuten Launches First Digital-only Bank in Taiwan

20/01/2021

Rakuten International Commercial Bank was one of three groups granted authorisation to set up a digital bank in July 2019.

Market Infrastructure

Clearinghouses Consider Early LIBOR Switch for Derivatives – Report

20/01/2021

LCH and CME Group could carry out a switchover in late November or early December for LIBOR derivatives to protect from tight liquidity in the benchmark’s final days.

AML / KYC

Australian Border Force Disrupts Money Laundering by Drug Cartels

20/01/2021

9 Australian and 7 international banks were used to launder A$500mn in illegal profits from the drug trade between 2014 and 2017.

AML / KYC

GLEIF Enhances LEI Search Engine, Automates Access to LEI Data

19/01/2021

A new API enables third-party developers to automate searches and retrieve higher quality LEI data from within their application environments.

Securities / Derivatives

China: SAFE Allocates $9bn in Additional Quotas to QDIIs

19/01/2021

90% of the new quotas were granted to 14 fund managers, including China Southern Asset Management, E Fund Management, Bosera Asset Management and Harvest Fund Management.

Fintech / Regtech

PBOC, CBIRC Restrict Online Sale of Deposit Products by Banks

19/01/2021

The PBOC and CBIRC have formally barred banks from selling personal fixed deposit products online via third party platforms, citing regulatory violations.

AML / KYC

UPDATED: Philippine Senate Approves Amendments to AML Law

19/01/2021

The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.

Fintech / Regtech

UPDATED – PBOC Says Ant Group Working to Overhaul Business Structure

19/01/2021

Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.

Market Infrastructure

MAS Raises Expectations on Technology Risk Management

19/01/2021

The revised guidelines set out higher expectations for FIs in technology risk management, including for assessments of third-party suppliers.