AML / KYC

Malaysia Threatens Legal Action Over ‘Harmful’ Facebook Content

26/06/2023

Bursa Malaysia has backed the communications regulator’s move to take action against Meta for its failure to remove scam posts.

Philippine Central Bank Set to Get New Governor

25/06/2023

Eli Remolona, who previously spent more than 30 years between the NY Fed and BIS, will serve a six-year term as BSP governor starting 3 July.

ESG / Sustainability

BNM Issues New Roadmap for Advancing Financial Inclusion

25/06/2023

BNM outlines the key barriers to financial inclusion, and four strategic enablers that will support further progress.

Market Infrastructure

Australia Passes Bill to Establish Compensation Scheme of Last Resort

25/06/2023

The CSLR will facilitate the payment of up to A$150,000 in compensation for financial services consumers who have unpaid determinations from AFCA.

FSC Korea to Make Bank Execs Accountable for Internal Controls

25/06/2023

CEOs will have to establish “responsibilities maps” showing how internal control responsibilities are shared and divided among executive officers.

Fintech / Regtech

Korea ‘Financial AI Data Library’ to Start Operations in July

24/06/2023

The Financial AI Data Library allows the reuse of pseudonymous information in a secure environment, which will help fintechs and financial firms save time and cost.

Enforcement

ASIC Penalises Morrison Securities for Mishandled Client Orders

24/06/2023

Inadequate controls led to orders being erroneously directed to Chi-X rather than ASX, resulting in market integrity rule breaches.

Market Infrastructure

FSC Korea Approves Financial Hub Development Plan

23/06/2023

The financial hub development plan outline measures the FSC will undertake to promote financial hubs in South Korea.

Market Infrastructure

RBA Consults on Options for Enhancing Debit Card Market

23/06/2023

The RBA seeks to prevent any one debit network from being given routing priority at issuance for domestic transactions.