Capital / Liquidity

Philippine Senate Considers Bills to Enhance Deposit Insurance

28/03/2021

The Senate is considering a bill to double the maximum deposit insurance limit to PHP 1 million per depositor.

Enforcement

Australia Delays National Consumer Credit Protection Act Reforms

28/03/2021

Whether or not responsible lending obligations are repealed, ASIC says it will enforce lending standards as part of its focus on consumer protection.

Enforcement

ASIC Notches Win in Proceedings Against Mayfair 101 Group

28/03/2021

ASIC warns it will take action when search engines are used in a misleading or deceptive way to entice investors into products they are not searching for.

Fintech / Regtech

BPAY, eftpos, NPPA Seek ACCC Approval for Merger

28/03/2021

The three payment schemes say their merger will allow them to bring innovative products to market more quickly, and will not reduce competition.

Securities / Derivatives

IOSCO Highlights Need for Reliable Going Concern Disclosures

25/03/2021

Securities regulators will continue to enforce requirements to recognise, measure and disclose uncertainties about an entity’s ability to continue as a going concern.

Taiwan to See First Merger of Financial Holding Companies

25/03/2021

Taipei Fubon Commercial Bank will be integrated with Jih Sun International Bank, and Fubon Securities with Jih Sun Securities.

Enforcement

DOJ to Probe Visa Over Debit Card Routing Practices

24/03/2021

Visa is alleged to have engaged in anti-competitive practices by preventing merchants from routing payments through other card networks.

Capital / Liquidity

RBNZ Orders Westpac NZ to Address Risk Governance Issues

24/03/2021

Westpac’s New Zealand unit breached the RBNZ’s liquidity policy by incorrectly calculating mismatch ratios.

Enforcement

Japan FSA to Inspect Mizuho Over System Failures

24/03/2021

The FSA will consider whether to take disciplinary action such as issuing a business improvement order against the bank.