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.

ESG / Sustainability

IFRS Foundation, VRF Finalise Consolidation Arrangements

24/06/2022

The consolidation will support the sustainability reporting work of the ISSB, which is also working to establish an MOU with GRI.

AML / KYC

AUSTRAC Focuses Efforts on Gambling Sector, Prosecutions

22/06/2022

AUSTRAC CEO Nicole Rose says the gambling sector must invest in robust compliance and AML programmes.

ESG / Sustainability

Thai SEC Partners With CDP to Drive Environmental Disclosures

22/06/2022

The SEC and CDP will co-develop a programme to improve the quantity and quality of environmental disclosures from corporates and FIs in Thailand.

Market Infrastructure

Korea Post Offices to Start Offering Simple Banking Services

22/06/2022

Korea’s post offices will start offering deposit, withdrawal, balance inquiry and ATM services of four banks – Kookmin, Shinhan, Woori and KEB Hana.

Market Infrastructure

Hong Kong Travel Restrictions Hindering Wealth Connect – Reports

22/06/2022

Wealth Management Connect had attracted only 0.3 percent of the total quota since its inception in October. HKIFA calls for an end to quarantine rules.

ESG / Sustainability

MAS Unveils First Use Case for New AI Platform ‘NovA!’

22/06/2022

NovA! will initially be used for ESG risk assessments when originating, underwriting and servicing sustainability-linked loans for the real estate sector.

Fintech / Regtech

‘Substantial Changes” Needed to Fully Reap Benefits of DeFi: BIS

19/06/2022

A new BIS bulletin highlights a growing trend in DeFi to rely on forms of centralisation, and a need for it to ultimately fall within the regulatory umbrella.