Fintech / Regtech

BIS, Four Central Banks Partner to Test Cross-Border CBDC Use

03/09/2021

The BIS Innovation Hub Singapore Centre will test CBDCs for international settlements with the RBA, MAS, BNM and SARB.

S. Korea Bans Payment Monopolies in App Stores

02/09/2021

South Korea is the first country to pass legislation forcing companies like Apple and Google to offer payment alternatives in their app stores.

Australian Industry Bodies to Standardise Advice Fee Disclosures

01/09/2021

The Financial Services Council and Financial Planning Association are developing an industry standard form to be used for advice fee disclosures.

Securities / Derivatives

Australia Issues Consultation to Finalise CCIV Regime

31/08/2021

The CCIV regime will offer a more flexible and tax-efficient corporate structure for fund managers. The regime is targeted to commence from 1 July 2022.

APRA Confirms Approach to New Credit Risk Reporting Standard

31/08/2021

APRA will proceed with implementation of the interim ARS 220.0 commencing 1 January 2022, despite feedback indicating its approach presented a burden for ADIs.

Fintech / Regtech

Australia Payments System Review Exposes Regulatory Gaps

31/08/2021

The review recommends enhancing the government’s powers to protect the payments system. A single, integrated licensing framework for payment services should also be introduced.

13 Super Funds Fail APRA’s First Performance Test

31/08/2021

If the failing super funds do not improve in next year’s test they will have to transfer their members to funds that deliver better outcomes.

Fintech / Regtech

India Targets December for CBDC Pilot Testing

31/08/2021

RBI governor Shaktikanta Das said the central bank is studying various aspects of a digital rupee with a view to conducting trials in December.

Enforcement

Korea: Ex-Presidential Aide Sentenced to Jail for Crypto Fraud

31/08/2021

The former presidential aide claimed a scam token had been certified by the BOK, FSS and KFTC, and that investors could multiply their investment by 100 times.