RBI Adjusts Resolution Framework to Benefit More Borrowers

10/06/2021

More MSMEs, small businesses and individuals will be able to restructure their debt, a measure taken amidst the adverse impacts of India’s second Covid-19 wave.

Enforcement

ASIC Files Australia’s First Criminal Charges Related to Auditing

10/06/2021

The charges against EC Audit and its director allege that the audits of Halifax Investment Services were not conducted in accordance with the relevant standards.

ESG / Sustainability

BOE Commences Climate Risk Stress Tests for Banks, Insurers

10/06/2021

The end result will be more robust management of climate-related financial risks across the sector, said BOE governor Andrew Bailey.

Fintech / Regtech

BSP Issues Two New Digital Bank Licences

09/06/2021

The BSP has now granted three digital bank licences to date, two of which are conversions from other types of banking licences.

AML / KYC

Australians Lost a Record A$851mn to Scams Last Year: ACCC

09/06/2021

Investment scams accounted more than a third of total losses, followed by romance scams and payment redirection scams as the next biggest categories.

RBI Issues Final Directions on Certificate of Deposit Issuance

09/06/2021

Banks are not allowed to grant loans against CDs, but they are now permitted to buy back CDs before maturity, subject to certain conditions.

Enforcement

Philippine Prosecutors File Criminal Complaints Over Wirecard Fraud

09/06/2021

The criminal complaints accuse respondents of violating banking, cybercrime, and e-commerce laws as well as falsifying commercial documents.

Market Infrastructure

Philippine FSCC Identifies Leverage as Key Downside Risk

08/06/2021

Cross-border effects are creating a layer of risks on top of scars that Covid has already inflicted on the domestic economy, the FSCC says.

AML / KYC

AUSTRAC Launches Fresh Probes into Australian Casinos

07/06/2021

AUSTRAC has launched enforcement investigations into Crown Perth, The Star Sydney and SkyCity Adeliade over their dealings with high-risk customers and PEPs.