Market Infrastructure

UK Regulator Directs CRAs to Fix Governance Gaps

26/10/2022

Credit rating agencies have until 30 January 2023 to submit action plans to the FCA on how they will rectify governance issues.

Capital / Liquidity

APRA to Review Prudential Framework for Financial Groups

25/10/2022

APRA will seek industry feedback in H1 2023 on five topics related to groups: financial resilience, governance, risk management, resolution, and competition issues.

Fintech / Regtech

HKMA Officially Launches Commercial Data Interchange

24/10/2022

The new platform will enable SMEs to get cheaper bank loans, and enable banks to access the information they need to assess creditworthiness.

Crypto / Digital Assets

Japan Set to Relax Rules for Crypto Token Listings – Report

23/10/2022

Crypto tokens will reportedly be able to list within 30 days. Currently, the screening process for a new listing takes around six months to a year.

Fintech / Regtech

RBI Consults on New Master Directions on IT Governance

23/10/2022

Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.

South Korea to Overhaul Accounting Regulations

12/10/2022

The changes will ease the burden on SMEs, enhance executive responsibility over accounting controls, and triple whistleblower rewards.

AML / KYC

Singapore Punishes Ex-BSI Banker Over 1MDB Failings

11/10/2022

BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.

AML / KYC

AUSTRAC Issues Guidance on SoF and SoW Checks

07/10/2022

When performing SoF and SoW checks, reporting entities must avoid the misconception that money coming from a bank can be presumed to be clean.

Market Infrastructure

Australia Mounts ‘Supercharged’ Response to Optus Breach

07/10/2022

“Operation Guardian” will protect those who had their data released online. Regulatory changes will enable better coordination to detect and mitigate cyber, fraud and scam risk.