Fintech / Regtech

Australian Banks Expand Use of Blockchain For Bank Guarantees

05/09/2020

ANZ, CBA, Westpac, IBM and Scentre Group are opening up to early adopters a blockchain platform that in trials has reduced the issuance time for bank guarantees to just one day.

Uncategorised

Australia Passes Law to Allow Employees to Choose Super Fund

04/09/2020

The bill will allow Australians to choose their own superannuation fund instead of being forced to invest in mandatory superannuation funds offered by their employers.

Enforcement

Hong Kong ICAC Charges Two for Defrauding Four Banks

03/09/2020

An SME director and a former clerk allegedly conspired to defraud four commercial banks, the Trade and Industry Department, and Hong Kong Mortgage Corporation.

Uncategorised

New US Exchange MEMX Postpones Launch for Additional Testing

03/09/2020

Wall Street-backed MEMX will begin trading in six symbols on 21 September before trading all National Market System stocks on 29 September.

Crypto / Digital Assets

Seoul Police Raid Crypto Exchange Bithumb Over Fraud Allegations

03/09/2020

Police reportedly raided South Korea’s largest crypto exchange and confiscated data in connection with a fraud investigation involving the pre-sale of BXA tokens to investors.

APRA Consults on Changes to EFS Reporting Standards

25/08/2020

The consultation is open for comment until 25 September. The changes are proposed to be effective for the reporting period ending June 2021.

Fintech / Regtech

Digital Yuan Testing Limited to Small Transactions Only, PBOC Clarifies

25/08/2020

China is currently testing its sovereign digital currency with four state-run commercial banks in Shenzhen, Suzhou, Xiongan and Chengdu.

Securities / Derivatives

Australia Transitions to New Regulatory Regime for Litigation Funders

24/08/2020

Litigation funders will have three months of transition relief before they have to mandatorily hold an AFS licence and comply with rules for managed investment schemes.

Capital / Liquidity

BOT to Launch Debt Restructuring Programme for Businesses

24/08/2020

The new programme is designed to help businesses to restructure debt owed to multiple creditors. A similar programme for household borrowers already exists.