Structural Regulation

Regulators Order Tencent to Establish Financial Holding Company

27/05/2021

Like Ant Group, Tencent will have to submit a reorganisation plan to regulators specifying which businesses the new financial holding company will absorb.

Data Privacy

WhatsApp Files Lawsuit Against India Over Traceability Rules

27/05/2021

The new laws give the Indian government greater power to monitor online activity and require data to be stored in a “traceable” database.

Payments & Settlements

MAS Partners with Mojaloop Foundation on Financial Inclusion

27/05/2021

The partnership will bring together MAS’ policy development perspectives and Mojaloop’s digital payments capability to advance financial inclusion.

ESG Data

NGFS Publishes Preliminary Findings on Climate-related Data Gaps

26/05/2021

The availability of reliable climate-related data requires swift progress on disclosures, global taxonomy, and transparent and quality-assured metrics, the NGFS says.

Cloud & Infrastructure

Malaysia Launches Islamic Fintech Accelerator Programme

26/05/2021

The FIKRA Islamic Fintech Accelerator Programme seeks to promote an Islamic fintech innovation ecosystem in Malaysia’s capital market.

Conduct, Culture & Accountability

Korea FSS Orders IBK to Compensate Investors Over Mis-sold Funds

26/05/2021

The FSS said IBK failed to adequately inform customers of potential high risks and lacked internal controls to monitor the selling process.

CBDCs

Bank Indonesia Explores CBDC as Legal Payment Instrument

26/05/2021

The central bank is assessing which platform and technology it will use to issue a digital rupiah as a legal digital payment instrument in Indonesia.

Trading & Investment

Hong Kong Considers Replacing State Street as TraHK Manager

26/05/2021

Officials reportedly commissioned an independent study to review State Street’s role in managing Hong Kong’s Tracker Fund.

Trading & Investment

CBIRC Approves Goldman Sachs Wealth Management JV

26/05/2021

Preliminary approval will allow Goldman Sachs Asset Management to own a 51 percent stake in the joint venture with ICBC Wealth Management.