Fintech / Regtech

FSC Korea Threatens to Withdraw Incentives for Internet-only Banks

20/11/2020

The FSC has criticised Kakao Bank for disregarding customers with average credit scores, and instead favouring borrowers with high credit scores.

ESG / Sustainability

Thailand Proposes Compulsory ESG Training for Capital Market Personnel

19/11/2020

Investment consultants and fund managers, among others, would be required to undergo a mandatory training module covering ESG at licence renewal.

Crypto / Digital Assets

Australian Police Charge Ex-Promoter of Failed Crypto Platform

19/11/2020

The former BitConnect promoter is said to have operated an unregistered managed investment scheme and provided unlicensed financial advice.

Enforcement

Taishin Bank Employee Arrested in Taiwan for Embezzlement

19/11/2020

The employee allegedly misappropriated over $10.5mn. The FSC described the case as “the biggest embezzlement case in Taiwan’s banking history”.

ASIC Drafts Reference Checking Protocol for Advisers, Mortgage Brokers

19/11/2020

The Royal Commission recommended that reference checks be required for individuals seeking to be employed or authorised as a financial adviser or mortgage broker.

ASIC Consults on Barriers to Good Quality Affordable Personal Advice

18/11/2020

ASIC is looking to better understand the barriers to providing good quality and affordable advice and help the industry provide such advice more broadly.

Securities / Derivatives

FMA Proposes New Guidance on Financial Product Advertising

18/11/2020

The guidance sets out the FMA’s expectations of what good conduct in the advertising of offers of financial products looks like.

Securities / Derivatives

BSE India Launches New Investment Platform for Fund Managers

17/11/2020

Asset managers can transact for all their schemes through the new platform rather than switch between multiple platforms as is current practice.

Capital / Liquidity

PBOC Official Warns Lenders of Need to Protect Asset Quality

17/11/2020

Sun Tianqi, appointed as head of the PBOC’s Financial Stability Bureau in May, urged commercial lenders to increase loan loss provisions and dispose of more NPLs.