ASIC Calls on Lenders to Support Customers Experiencing Hardship

30/08/2023

Financial hardship will be a key area of focus over the next year. ASIC will conduct a review of large home lenders to understand their approaches in this area.

ESG / Sustainability

HKMA Sets Out Transition Planning Principles for Banks

30/08/2023

The HKMA will survey banks in Q4 on their transition planning practices, and consider these efforts in its supervisory review process.

UN Report Calls for Action to Address Scam Operations in Southeast Asia

30/08/2023

The report says people who are forced to work in scamming operations endure “inhumane treatment” and should be treated as victims, not criminals.

Market Infrastructure

APRA to Develop Cross-Industry Stress-Testing Framework

30/08/2023

APRA will explore how shocks may be mitigated or propagated by interactions between banking, insurance, and superannuation.

Enforcement

SFC, ICAC Acts Against Suspected Market Manipulation Syndicate

30/08/2023

One person was arrested on bribery charges. Brokerage accounts linked to the manipulation scheme were frozen.

Market Infrastructure

HK Establishes Task Force on Enhancing Stock Market Liquidity

30/08/2023

The task force will review factors affecting stock market liquidity including the stamp duty and make policy recommendations.

AML / KYC

Australia Abruptly Halts Business Registers Upgrade Project

29/08/2023

Australia is stopping work on its business registers modernisation programme due to its excessive cost and expected time-to-completion.

Fintech / Regtech

Korea Seeks to Export Financial Infrastructure to Overseas Markets

28/08/2023

The FSC is working on plans to boost exports of Korean financial infrastructure to overseas markets such as in Southeast Asia.

Market Infrastructure

Vietnam Joins ASEAN Payment Connectivity Initiative

28/08/2023

The inclusion of the SBV has increased the Regional Payment Connectivity group from five to six ASEAN central banks.