ASIC Publishes Final Guidance on Anti Hawking Regime

24/09/2021

The guidance emphasises the need for firms to maintain records of consumers giving consent to be sold financial products as a way to demonstrate compliance.

Market Infrastructure

IFSCA to Establish International Arbitration Centre in GIFT City

24/09/2021

IFSCA chairperson Injeti Srinivas says the authority is close to setting up an International Arbitration Centre in GIFT City.

ASIC Stresses Record-Keeping Obligation for New DDO Regime

24/09/2021

ASIC says it may request records from advice licensees and financial advisers to monitor compliance with the new design and distribution obligations.

APRA Clarifies Position on Standards for Insurance in Superannuation

22/09/2021

APRA will not proceed with a proposed requirement for independent certification of priority and privilege arrangements to avoid “unintended consequences”.

Securities / Derivatives

SEBI Chairman: T+1 Settlement ‘Good for all Participants’

21/09/2021

SEBI chairman Ajay Tyagi says moving to T+1 settlement will be good for all participants and not lead to liquidity fragmentation.

AML / KYC

Corruption, Bribery Seen as Key Challenges in 2020: Kroll

20/09/2021

A Kroll survey found that 82% of senior decision-makers for risk strategy felt corruption significantly impacted their organisations in 2020.

Big Picture

CBDCs Theaten to Eat Into Banks’ Remittance Fees: Moody’s

20/09/2021

Fees and commissions banks charge for cross-border transactions will be reduced with wide adoption of CBDCs.

Enforcement

Philippine Lawmaker Introduces Bill to Tackle Rising Cybercrime

17/09/2021

The bill requires banks and non-bank FIs to “exhaust all means to ensure that victims are able to recover their monetary loss, if any”.

Market Infrastructure

India’s UPI to Extend QR Payments to 10 Asian Markets

17/09/2021

Users of NPCI’s BHIM mobile app will be able to make UPI QR-based payments at merchants progressively across north and southeast Asia from early 2022.