Fintech / Regtech

RBI to Require Card Issuers to Offer Network Optionality

06/07/2023

Banks and other card issuers will have to provide options for customers to freely choose which card networks processes their payments.

Enforcement

FMA Imposes Permanent Stop Order on Validus International

05/07/2023

The permanent stop order bars Validus and its associated persons from offering or promoting its financial products to New Zealanders.

Market Infrastructure

APRA Reveals Early Results from Cybersecurity Assessments

05/07/2023

APRA identified six common control gaps in the first tranche of CPS 234 assessments, and offers recommendations to address them.

Enforcement

Seoul Police Probes Suspected Illegal Payments at Kakao Pay

05/07/2023

Kakao Pay is alleged to have received illegal subsidies from NICE Information & Telecommunication, a leading value-added network operator.

Capital / Liquidity

Cambodia Issues New Rules on Capital Adequacy, Credit Risk

05/07/2023

The NBC says the new rules will incentivise lenders to release more loans to businesses and ensure finance is available at “reasonable interest rates”.

Market Infrastructure

SEBI Consults on Consolidated Cyber Resilience Framework for REs

05/07/2023

The new draft master framework, open for consultation until 25 July, consolidates 15 individual circulars on cybersecurity issued since 2015.

Enforcement

APRA Fines BNK Banking Corp for Late Reporting of EFS Data

04/07/2023

APRA said BNK Banking Corporation was 32 days late in filing statistical reports for the month ending 28 February 2023.

Sanctions

China to Impose Export Controls on Key Chipmaking Metals

04/07/2023

China says the imposition of export curbs on gallium and germanium is to safeguard national security and interests.

Crypto / Digital Assets

Hong Kong Establishes Task Force to Advance Web3 Development

03/07/2023

The task force will bring together industry leaders and regulators to provide advice on developing Hong Kong into a Web3 hub.