Enforcement

ACCC Issues First Penalty for CDR Breach Against BOQ

14/07/2022

This is the first infringement notice the ACCC has issued for an alleged breach of the CDR rules as BOQ pays penalty.

Fintech / Regtech

FSC Korea Approves Rule Change to Promote Data Convergence

11/07/2022

Firms that do not hold their own data will be allowed to use pseudonymised data from other businesses in their analysis.

ESG / Sustainability

NGFS Issues Final Report on Bridging Climate-related Data Gaps

08/07/2022

The largest gaps are for biophysical impact, emissions and geospatial data types, which affect use cases such as investment and lending decisions and exposure quantification.

Securities / Derivatives

FIA Highlights Challenges of HKEX Position Limits Proposals

07/07/2022

The introduction of two more tiers in the position limit regime for single stock options and futures would bring additional operational challenges for exchange participants.

AML / KYC

New Zealand DIA Publishes Guidance on AML/CFT Approach & Strategy

06/07/2022

The first publication covers the DIA’s approach to regulating AML/CFT. The second outlines how the DIA uses its compliance and enforcement toolkit.

Market Infrastructure

Hong Kong, China to Launch ‘Swap Connect’ in Six Months

05/07/2022

Swap Connect will initially enable Hong Kong and international investors to trade in Mainland interest rate swaps, and potentially other derivatives in futures.

New Zealand Passes Law to Introduce ‘Conduct Licensing’ Regime

30/06/2022

Banks, insurers and non-bank deposit takers will be required to obtain a conduct licence from the FMA, on top of their prudential licences from the RBNZ.

Fintech / Regtech

RBI Issues Draft Rules on Managing IT Outsourcing Risks

28/06/2022

Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.

Securities / Derivatives

ASIC Issues Guidance on CCIV Registration, Licensing

24/06/2022

To register a CCIV and initial sub-fund, a corporate director would first need to obtain an AFS licence, which can be a variation of an existing licence.