Singapore BNPL Code On Track to Launch This Year

13/09/2022

BNPL providers are exploring a mechanism to share information with one another on customers’ outstanding amounts and their delinquency status.

Evergrande Works to Quell Mortgage Boycott Concerns

13/09/2022

Construction on 38 pre-sold property projects will resume by the end of September. Work will accelerate on 62 other projects already restarted.

Securities / Derivatives

ASIC Highlights Industry Action to Correct Misleading Fund Marketing

12/09/2022

Responsible entities and trustees voluntarily took action once ASIC expressed concerns over their funds’ marketing materials.

AML / KYC

BSP Issues New Guidance on TFS Implementation

09/09/2022

The guidance sets out the BSP’s regulatory expectations and identifies emerging typologies, including the use of virtual assets to finance terrorism.

Capital / Liquidity

BSP Raises Minimum Capital Requirement for Rural Banks

06/09/2022

The PHP 10 million minimum capital requirement was raised to PHP 50 million, which is less than was proposed in May.

AML / KYC

RBI Issues New Guidelines on Digital Lending

06/09/2022

The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.

ESG / Sustainability

Thai Banks Pledge to Accelerate Action on ESG, Climate

03/09/2022

Thai banks adopt “ESG Declaration”. Government sets new carbon neutrality and net zero timelines. Climate Change Bill to become law in 2023.

Fintech / Regtech

SFC Finds Deficiencies in Investment Services Offered Online

02/09/2022

The SFC is calling on licenced corporations to address regulatory deficiencies identified in some investment services offered online.

Crypto / Digital Assets

ASIC Warns Against Offering Risky Products to Retail

01/09/2022

ASIC warns brokers against offering securities lending arrangements, crypto assets and so-called ‘zero brokerage’ offerings to retail investors.