Fintech / Regtech

Wirecard Service Halt Disrupts Singapore Merchants – Report

13/10/2020

Singapore merchants were caught off guard when Wirecard services stopped functioning this month. Many have been accepting payments via bank transfer, cash or digital platforms.

Market Infrastructure

PBOC Scraps Risk Reserve Requirement on FX Forwards

13/10/2020

The risk reserve ratio previously made it more expensive to bet against the yuan by forcing FIs to set aside extra cash when buying FX forwards for clients.

AML / KYC

FSB Publishes Roadmap on Enhancing Cross-Border Payments

13/10/2020

The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.

Market Infrastructure

Japan Financial Hub Ambitions Centre on Three Cities – Report

13/10/2020

Prime Minister Yoshihide Suga reportedly plans to quickly address issues concerning taxation, residency requirements and language support to attract foreign talent.

Capital / Liquidity

APRA to Align Prudential Standards with IAIS ComFrame

13/10/2020

APRA has designated QBE Insurance Group as an internationally active insurance group, which will promote coordination with other international supervisors.

Fintech / Regtech

FSB Calls on Authorities to Regulate BigTech in Financial Services

12/10/2020

Where financial services activities are undertaken by new types of actors, such as BigTech firms, the principle of ‘same risk-same regulation’ should apply, the report says.

ESG / Sustainability

MAS Extends Liquidity Facility for FIs to Support SME Lending

12/10/2020

Enterprise Singapore has likewise extended its Temporary Bridging Loan Programme and its trade loan financing scheme, and enhanced its project loan financing scheme.

AML / KYC

RegTech Asia 2020: The Evolution of Typologies

12/10/2020

How have financial crime typologies been evolving in recent years, and how are they being used by financial institutions to combat crime?

Fintech / Regtech

BOJ to Commence CBDC Testing as Early as April 2021

12/10/2020

A proof of concept will take place over two phases, followed by a possible pilot programme involving private payment service providers and end-users.