Conduct, Culture & Accountability

ASIC Highlights Industry Action to Correct Misleading Fund Marketing

12/09/2022

Responsible entities and trustees voluntarily took action once ASIC expressed concerns over their funds’ marketing materials.

PEPs & Sanctions

BSP Issues New Guidance on TFS Implementation

09/09/2022

The guidance sets out the BSP’s regulatory expectations and identifies emerging typologies, including the use of virtual assets to finance terrorism.

Capital Adequacy

BSP Raises Minimum Capital Requirement for Rural Banks

06/09/2022

The PHP 10 million minimum capital requirement was raised to PHP 50 million, which is less than was proposed in May.

Data Privacy

RBI Issues New Guidelines on Digital Lending

06/09/2022

The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.

Climate Risk

Thai Banks Pledge to Accelerate Action on ESG, Climate

03/09/2022

Thai banks adopt “ESG Declaration”. Government sets new carbon neutrality and net zero timelines. Climate Change Bill to become law in 2023.

Conduct, Culture & Accountability

SFC Finds Deficiencies in Investment Services Offered Online

02/09/2022

The SFC is calling on licenced corporations to address regulatory deficiencies identified in some investment services offered online.

Trading & Investment

ASIC Warns Against Offering Risky Products to Retail

01/09/2022

ASIC warns brokers against offering securities lending arrangements, crypto assets and so-called ‘zero brokerage’ offerings to retail investors.

Sustainable Finance

BSP Issues Sustainable Investment Guidelines for Banks

29/08/2022

Banks whose investments are exposed to material environmental and social risks should adopt appropriate tools and metrics to assess, measure, and monitor these risks.

Cloud & Infrastructure

FSC Korea Unveils Reforms to Promote Digital Financial Services

29/08/2022

The FSC will increase opportunities for FIs and fintechs to offer services via integrated apps, while ensuring consumer protections are in place.