Enforcement

ASIC Secures A$10m in Refunds for Customers from Allianz

04/11/2020

Up to 31,000 consumers have been remediated for misconduct relating to the sale of travel insurance through Allianz’s own website and those of its partners.

ESG / Sustainability

Korea Exchange Joins and Declares Support for TCFD

03/11/2020

KRX joins the Ministry of Environment, Shinhan Financial Group, KG Financial Group, Posco and SK Innovation in declaring its support for the TCFD.

Market Infrastructure

PBOC to Scrap Market Maker Approval Process in Interbank Market

01/11/2020

The PBOC proposes to allow banks and securities firms to only sign an agreement with trading platforms to conduct market making business.

Securities / Derivatives

IFSCA Approves Bullion Trading Regulations for Gift City

01/11/2020

The regulations provide guidelines on to functions, general obligations, ownership and governance structure for a bullion exchange and clearing corporation in Gift City.

Enforcement

FSC Korea Consults on Enforcement of New Consumer Protection Law

29/10/2020

The key enforcement proposals relate to consumer rights, the types of firms under scope, and the reach of the new legislation, and the penalties that can be imposed.

BSP to Stimulate SME Lending with New Credit Risk Database

28/10/2020

The database will use financial statements and loan default information held by financial institutions to generate credit scores and better estimate default risk.

Fintech / Regtech

BIS, Swiss National Bank to Issue CBDC Proof of Concept by Year-End

27/10/2020

CBDC research provides an “essential opportunity” to pool knowledge and resources and help enhance cross-border payments, says Benoît Coeuré, head of the BIS Innovation Hub.

Capital / Liquidity

PBOC Issues Draft Law Aimed at Modernising Central Bank System

27/10/2020

The draft law expands the PBOC’s role in preventing financial risks, assigns it responsibilities to society, and provides a legal basis for its CBDC, among other changes.

Securities / Derivatives

DCE Solicits Opinions on Amended RBD Palm Olein Futures Rules

27/10/2020

The new rules are aimed at providing certainty and appeal for overseas market participants to participate in the DCE’s RBD palm olein futures market.