Enforcement

RBNZ Reprimands Pacific International Insurance Over Reporting Failures

03/12/2020

The RBNZ says Pacific International Insurance’s poor history of non-compliance with regulatory reporting requirements continued despite repeated warnings.

Securities / Derivatives

Ho Chi Minh Bourse to Raise Minimum Board Lot Tenfold

03/12/2020

HoSE plans to allow two weeks for modifications to trading systems, one week for testing, and implementation in January 2021.

Market Infrastructure

NZFMA Starts Publishing New OCR Compound Index

03/12/2020

The OCR compound index provides market participants with a standardised method of calculating term risk-free interest rates in arrears.

Fintech / Regtech

China Crackdown Brings Number of Active P2P Lenders to Zero

02/12/2020

Chinese media reports that the number of P2P lenders has now fallen to zero, down from a peak of almost 6,000 such firms in 2017.

Market Infrastructure

HKMA Unveils New FPS Feature Allowing Link to HKID

02/12/2020

From 6 December onwards, individuals can link their HKID numbers to a bank account to conveniently receive payments, the HKMA said.

Capital / Liquidity

RBNZ Consults on Insurance Act, Solvency Standards

02/12/2020

The consultations form part of a multi-year review to ensure the existing frameworks remain effective and promote public trust in the insurance sector.

Market Infrastructure

RBI Chief Calls for Smooth Transition from LIBOR

02/12/2020

Achieving a smooth transition from LIBOR will require “significant efforts” from all stakeholders, RBI governor Shaktikanta Das said.

Enforcement

ASIC Files Court Proceedings Against CBA for Overcharged Interest

02/12/2020

The overcharging of interest in overdraft accounts was caused by a systems error, which CBA tried to fix manually. ASIC says the bank broke the law over 12,000 times.

AML / KYC

Cambodia Enacts Law to Regulate Local Gaming Industry

29/11/2020

The new law seeks to address a FATF requirement for Cambodia to implement risk-based supervision for casinos, while also helping to further develop the gaming sector.