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.

Market Infrastructure

Australia: New Report Proposes Changes to Financial Advice Rules

27/10/2020

The FASEA regime has created a barrier to many people who seek to provide advice services and to consumers who seek to access them, says a new Rice Warner report.

Enforcement

Singapore Police Charge Ex-Remisier with Criminal Breach of Trust

26/10/2020

Over six years, an 86-year-old client entrusted money to the remisier for the purposes of buying shares but no shares were ever purchased.

Uncategorised

FSC Korea Designates KFTC to Manage P2P Financing Data

26/10/2020

The Korea Financial Telecommunications and Clearings Institute will start operating a central registry for P2P transaction data from 1 May 2021.

Securities / Derivatives

CSRC Green-lights Launch of International Copper Futures Contract

26/10/2020

The new copper futures contract will be traded on Shanghai’s International Energy Exchange, and accessible to foreign investors looking to hedge their exposures in China.

Enforcement

Hong Kong ICAC Charges Two Former AIA Agents With Fraud

25/10/2020

A former district manager and former insurance agent each face one count of fraud in separate cases for submitting false income proof statements.