ABA Updates Guidelines on Preventing Elder Abuse

06/04/2021

The ABA is calling on governments across Australia to establish consistent power of attorney laws across the country and a national POA register.

Enforcement

Myanmar: Korean Banks Raise Vigilance After Employee Shooting

05/04/2021

A Shinhan Bank employee has died after being shot in the head by Myanmar’s military forces. Meanwhile, local private banks are being fined for remaining closed.

Hong Kong: Group-Wide Supervision for Insurance Takes Effect

02/04/2021

The IA is looking to formally designate AIA Group, FWD Group and the Prudential Group as being subject to the new framework by mid-2021.

Fintech / Regtech

ACCC Gives NAB Green Light to Acquire Neobank 86400

01/04/2021

The ACCC’s decision is based on an assessment that the NAB acquisition is “unlikely to substantially lessen competition” in the market.

BSP Encourages Greater Development of Islamic Banking

01/04/2021

The BSP is proactively approaching local and foreign lenders to ascertain whether they are interested in establishing Islamic banking units.

Enforcement

ASIC Reassesses Tools for Enforcing Disclosure Rules

30/03/2021

ASIC is assessing how changes to continuous disclosure laws will affect the practicality of issuing infringement notices.

FSC Korea Addresses Pandemic Impact on SME Credit Scores

30/03/2021

The FSC says credit support measures for SMEs will be maintained at it will minimise the impact of rating downgrades.

ESG / Sustainability

RBNZ Makes Submission to Climate Change Commission

29/03/2021

The RBNZ emphasised the need to take a collective approach and for the firms it regulates to pay close attention to climate-related risks.

ASIC Makes Legislative Instruments on Adviser Requirements

29/03/2021

ASIC has introduced legislative instruments covering advice fee consents and lack of independence disclosure requirements.