Fintech / Regtech

China Tightens Rules on Internet Platform Companies

26/01/2022

The rules tighten restrictions on internet platform companies investing in financial services firms and ask them to implement capital and leverage ratio requirements.

Fintech / Regtech

ASIC to Enhance Corporate Disclosures Through Regtech

24/01/2022

Five regtechs are tasked with conducting a feasibility study to help ASIC analyse corporate disclosures and assess compliance by listed companies.

Capital / Liquidity

Taiwan FSC Asks Banks to Review Mortgage Practices

24/01/2022

The FSC has discovered a scheme to induce investors to apply for mortgages from banks and use the proceeds to speculate in the real estate market.

Bangladesh Bank Issues New CSR Guideline for Banks

21/01/2022

Banks and FIs should spend at 20 percent of their CSR funds on the environment and climate change mitigation and adaptation, up from 10 percent previously.

Market Infrastructure

RBNZ, FMA Releases Finalised Framework for FMIs

21/01/2022

Changes from the consultation relate to the treatment of critical service providers and introduce discretion regarding the publication of material breaches.

AML / KYC

AUSTRAC Expands AML Probe of Star Casino Group to ‘Other Entities’

21/01/2022

AUSTRAC has advised Star that it has not yet made a decision regarding its regulatory response, including whether or not enforcement action will be taken.

FSC Taiwan Lowers Notification Threshold for Online Transactions

21/01/2022

Banks have six months to update their system to reflect the new TWD 3,000 threshold that will trigger notifications that an online card transaction has taken place.

Securities / Derivatives

Shanghai INE Opens Applications for New Market Makers

20/01/2022

Shanghai INE says new market makers must have net assets of no less than CNY 50 million or its equivalent in foreign currency.

Enforcement

Statewide Superannuation Fined for Overcharging, Misleading Members

19/01/2022

Statewide also reported its breaches to ASIC some 45 days late. The firm is required to undertake a remediation programme and engage an independent expert for review.