Enforcement

Korea: Ex-Presidential Aide Sentenced to Jail for Crypto Fraud

31/08/2021

The former presidential aide claimed a scam token had been certified by the BOK, FSS and KFTC, and that investors could multiply their investment by 100 times.

Securities / Derivatives

CSRC Considers Barring Data-Heavy Firms from Listing Overseas

30/08/2021

The CSRC is drafting rules that would prohibit Internet firms holding large amounts of user-related data from listing overseas, targeting firms with VIE structures.

Market Infrastructure

ACCC Opens Competition Inquiry Into NAB-Citigroup Deal

30/08/2021

The ACCC has asked interested parties to submit their views regarding NAB’s proposed acquisition of Citigroup’s Australian consumer banking business by 13 September.

Big Picture

IMF Spotlights Legal Challenges of Fintech for Central Banks

30/08/2021

A new IMF paper discusses the impacts fintech will have on currency issuance, monetary policy implementation, and payment system soundness, among other functions of a central bank.

Market Infrastructure

APRA Focuses on Resilience in Updated Corporate Plan

30/08/2021

APRA will look to enhance resilience in the financial system, including cyber resilience, while also transforming governance, risk-culture, remuneration and accountability.

Market Infrastructure

PBOC Receives Third Financial Holding Company Application

29/08/2021

Beijing Financial Holdings Group is the third company to apply for a licence after China CITIC and China Everbright Group.

Market Infrastructure

Korean Fund Managers Allowed to Cross-List Chinese ETFs

26/08/2021

The FSC has enacted rule changes that allow domestic asset management firms to cross-list Chinese ETFs in Korea starting Friday (27 August).

Enforcement

Australian Court Fines NAB Over Fee Disclosure Statements

26/08/2021

NAB charged fees for personal advice without providing customers fee disclosure statements, providing them late, or containing false misleading information.

APRA Releases Response Letter on Treatment of Covid Loans

26/08/2021

APRA is extending the time period for temporary adjustments to APS 220 so that loans granted repayment deferrals from 8 July until 30 September are covered.