Capital / Liquidity

Thailand SEC Revises Net Capital Rules to Bolster Liquidity

22/11/2020

The SEC will allow securities companies to include the value of digital assets when calculating their net capital funds, though a haircut of at least 50 percent will be applied.

Fintech / Regtech

BOK, FSC Clash Over Supervisory Authority in Fintech, Payments

21/11/2020

The FSC has proposed legislative amendments that would give it power over payment settlements in the fintech industry. The BOK says this will create redundant regulations.

Fintech / Regtech

Vietnam Working to Allow Cooperation With Foreign Firms in Payments

21/11/2020

Currently, Vietnam has no regulations for international payments to be made via foreign intermediary payment operators or e-wallets.

Fintech / Regtech

BSP Seeks Interoperability, Unified Standard in Payments

21/11/2020

BSP governor Benjamin Diokno envisions that payment facilities operated by individual banks and payment firms will operate under a single standard.

Fintech / Regtech

FSC Korea Threatens to Withdraw Incentives for Internet-only Banks

20/11/2020

The FSC has criticised Kakao Bank for disregarding customers with average credit scores, and instead favouring borrowers with high credit scores.

ESG / Sustainability

Thailand Proposes Compulsory ESG Training for Capital Market Personnel

19/11/2020

Investment consultants and fund managers, among others, would be required to undergo a mandatory training module covering ESG at licence renewal.

Crypto / Digital Assets

Australian Police Charge Ex-Promoter of Failed Crypto Platform

19/11/2020

The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.

Enforcement

Taishin Bank Employee Arrested in Taiwan for Embezzlement

19/11/2020

The employee allegedly misappropriated over $10.5mn. The FSC described the case as “the biggest embezzlement case in Taiwan’s banking history”.

ASIC Drafts Reference Checking Protocol for Advisers, Mortgage Brokers

19/11/2020

The Royal Commission recommended that reference checks be required for individuals seeking to be employed or authorised as a financial adviser or mortgage broker.