FSC Korea to Delay Implementation of New Audit Requirement

16/07/2021

The FSC will postpone for one year the requirement for stock companies’ consolidated internal accounting control systems to undergo an external audit.

Enforcement

Chinese Regulators Penalise Dagong Global Credit Rating

16/07/2021

Dagong failed to adequately scrutinise or inspect the businesses it was evaluating, and adjusted its ratings models without giving sufficient reason.

RBI Grants In-principle Approval for PMC Bank Takeover

16/07/2021

The RBI has given Centrum Financial Services in-principle approval to set up a small finance bank to take over PMC Bank.

Securities / Derivatives

Sri Lanka to Launch New OTC Platform for Repo Trading

15/07/2021

Firms seeking to carry out repo transactions on debt securities are invited to apply for trading membership.

Fintech / Regtech

BOK Unveils Firms Seeking to Participate in CBDC Project

15/07/2021

Units of SK Group, Naver and Kakao are the three firms competing to work on a CBDC project which will commence next month.

Market Infrastructure

FSC Korea Grants Initial Nod for New Credit Rating Businesses

14/07/2021

The granting of new credit information business licences is expected to facilitate the introduction of new models for credit evaluation.

AML / KYC

BNM Allows MSBs to Onboard Corporate Customers Remotely

12/07/2021

A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.

Malaysia Provides Six Month Automatic Moratorium to Borrowers

11/07/2021

This is the second time Malaysia has introduced a comprehensive loan moratorium after its debut in March last year.

Fintech / Regtech

MAS, Banque de France Complete m-CBDC Experiment

11/07/2021

The experiment showed the potential to reduce the number of correspondent banking parties involved in the payment chain for cross-border transactions.