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.

Market Infrastructure

FSC Korea Designates KOFIA as CD Rate Administrator

23/06/2023

With KOFIA designated as the administrator, the CD rate will begin to have legal effect as a critical benchmark rate starting on 2 October.

Crypto / Digital Assets

CFTC Files Charges in First Romance Scam Case Involving Crypto

22/06/2023

The CFTC says it is the first time it is handling a romance scam case involving digital asset commodities and forex.