Structural Regulation

BNM Proposes New Licensing Framework For Digital Insurers

05/01/2022

Digital insurers and takaful operators should have a minimum paid-up capital of MYR 40 million during the foundational phase.

Data Privacy

South Korean Financial Institutions Launch ‘MyData’ Services

05/01/2022

On Wednesday, 33 firms started offering MyData services, enabling consumers to centralise management of their data from different institutions.

Credit Risk

Korea to Enhance Credit Recovery Support Measures

04/01/2022

The CCRS and 5 state-backed guarantee institutions have agreed to adjust credit recovery standards to help borrowers of guaranteed loans return to normal more quickly.

Structural Regulation

Morgan Stanley Closer to Full Ownership of China Brokerage

03/01/2022

Morgan Stanley will increase its stake in its China securities joint venture to 94 percent, subject to regulatory approvals.

Trading & Investment

FSC Korea Says LIBOR Transition Progressing Smoothly

31/12/2021

The CD rate has been actively replaced with Korea’s new RFR, known as KOFR, since its introduction on 25 November, the FSC said.

Payments & Settlements

Bank Indonesia Launches New Fast Payments System, BI-Fast

24/12/2021

BI-Fast lowers the interbank transfer fee, set at IDR 2,500 (USD 0.18) per transaction, down from the usual IDR 6,500 fee for interbank transfers. 21 banks have so far enrolled on BI-Fast.

Fraud, Scams & Cybercrime

Australian Court Fines Mayfair Companies for Misleading Advertising

24/12/2021

Four Mayfair companies were fined a combined A$30mn for “deliberately” misleading investors into buying highly speculative and risky investment products.

Trading & Investment

US Bourses Explore IPOs from SE Asia Amid Chinese Withdrawal

24/12/2021

Continued regulatory scrutiny from Chinese and US regulators has reportedly compelled US exchanges to explore IPO hopefuls from India, Indonesia, Vietnam and Malaysia.

Structural Regulation

Taiwan Proposes New Framework for Authorising Internet-only Insurers

23/12/2021

Sponsors of internet-only insurers can include financial institutions and fintech companies. Applications are expected to open in August 2022.