Capital / Liquidity

RBNZ to Restrict Foreign Banks’ Branches from Retail Business

25/08/2022

The RBNZ also proposes to limit the maximum size of a branch of an overseas bank to NZD 15 billion (USD 9.3 billion) in total assets.

Crypto / Digital Assets

ASIC Outlines Strategic Priorities in New Corporate Plan

24/08/2022

ASIC will prioritise work to protect investors from the crypto risks, misconduct including greenwashing, and other harms.

Enforcement

Australia to Increase Max Penalties for Anti-Competitive Conduct

23/08/2022

The maximum penalties for breaches of competition and consumer laws companies are being raised five-fold for both individuals and corporates.

Securities / Derivatives

FSC Korea to Revise 5pc Shareholding Disclosure Rule

23/08/2022

The revisions will require more detailed information to be disclosed regarding the purpose of shareholding. Initial adoption will be on a voluntary basis.

Fintech / Regtech

RBI Consults on Charges Levied in Payment Systems

18/08/2022

The RBI carried out a review of payment system charges, which consumers complain are “high and non-transparent”.

Crypto / Digital Assets

South Korea Launches Private-Public Taskforce on Digital Assets

18/08/2022

The new taskforce will examine new legislation that ensures a “proper balance” between innovation, and investor protection and financial stability.

Market Infrastructure

SFC, CSRC Agree to Align Trading Calendars for Stock Connect

15/08/2022

Northbound and southbound Stock Connect trading will be possible on all trading days when both the Hong Kong and Mainland China markets are open.

Capital / Liquidity

APRA Corporate Plan Highlights Focus on Industry Resilience

14/08/2022

In its latest corporate plan, APRA said its focus is to ‘protect the community today’ and ensure the financial system is ‘prepared for tomorrow’.

AML / KYC

INTERPOL Calls for Urgent Action to Tackle Pollution Crime

12/08/2022

Document fraud, tax evasion, money laundering and corruption are common components of pollution crimes, which often have a nexus with organised crime.