Market Infrastructure

MAS Consults on New Rules for Licensed Credit Bureaus

19/10/2020

Credit bureaus will be subject to similar technology risk management requirements and cyber security measures as required of other financial institutions in Singapore.

Capital / Liquidity

Capital Buffer Rules May Need to Change, says BOE’s Jon Cunliffe

19/10/2020

Restrictions on dividends and other payouts that can be imposed represent a ‘first-mover disadvantage’ to banks dipping into their capital buffers to support lending.

Enforcement

ASIC, Volkswagen Financial Services Settle Responsible Lending Case

19/10/2020

Volkswagen Financial Services Australia will provide remediation worth an estimated A$4.7mn to approximately 1,800 loan consumers.

Fintech / Regtech

China Pushes For Faster Launch of Digital Currency

19/10/2020

The Shenzhen government is issuing 10 million yuan worth of digital currency for testing as part of ongoing DC/EP pilot tests.

Securities / Derivatives

SEBI Issues Series of Risk-Reducing Measures for Debt Funds

18/10/2020

The reforms include a new code of conduct, new responsibilities for debenture trustees, new fund labeling requirements, and restrictions on inter-scheme transfers, among others.

Cambodia Set To Launch Covid-19 Credit Guarantee Scheme

18/10/2020

A USD 200 million credit guarantee scheme is expected to launch in late October or November, providing a risk-sharing facility for banks to lend to businesses.

AML / KYC

Bangladesh ACC Calls For Tighter KYC Rules for NBFIs

14/10/2020

The Anti-Corruption Commission says some NBFIs and cooperative societies are not collecting detailed customer information through their KYC processes.

Market Infrastructure

BSP Amends Operational Risk Guidelines to Include ‘People Risk’

13/10/2020

The BSP wants banks and NBFIs to embed in their ERM framework measures to identify, measure, monitor, and control human resource related risks.

Crypto / Digital Assets

UK FCA Bans Retail Sale Of Crypto Asset Derivatives

08/10/2020

The ban covers contracts for difference, options, futures and exchange-traded notes referencing crypto assets, and will come into effect on 6 January 2021.