Conduct, Culture & Accountability

Australian Court Fines Responsible Entity Over Product Disclosures

23/11/2020

Theta Asset Management and its ex-managing director were fined a combined A$2.1mn for authorising the issue of five defective product disclosure statements.

Structural Regulation

RBI Working Group Proposes New Rules on Bank Ownership

23/11/2020

The RBI working group suggests corporates be allowed to own up to 26% of banks, and NBFCs be allowed to convert to a banking licence.

Climate Risk

Malaysia, Japan Authorities Appointed to NGFS Steering Committee

23/11/2020

The inclusion of Japan’s FSA, BNM and Bank of Canada on the steering committee will widen the NGFS’ global reach and strengthening its geographical representation.

Conduct, Culture & Accountability

Industry Body Urges ASIC to Reconsider Reference Checking Model

23/11/2020

The Stockbrokers and Financial Advisers Association urges ASIC to look at the central register model used in the US, which treats advisers more fairly.

Structural Regulation

Thailand SEC to Remove Hardcopy Document Requirement for Takeovers

23/11/2020

Under the SEC’s proposal, investors who make a tender offer for all the securities of a business will no longer have to submit hardcopy documents in the tendering process.

Tokenisation

Singapore’s iSTOX Signs Digital Securities MOU with Chongqing Regulator

23/11/2020

The Chongqing Local Financial Supervision and Administration Bureau has pledged to support the establishment of an iSTOX digital securities exchange in Chongqing.

Liquidity Risk

Thailand SEC Revises Net Capital Rules to Bolster Liquidity

22/11/2020

The SEC will allow securities companies to include the value of digital assets when calculating their net capital funds, though a haircut of at least 50 percent will be applied.

Payments & Settlements

BOK, FSC Clash Over Supervisory Authority in Fintech, Payments

21/11/2020

The FSC has proposed legislative amendments that would give it power over payment settlements in the fintech industry. The BOK says this will create redundant regulations.

Payments & Settlements

Vietnam Working to Allow Cooperation With Foreign Firms in Payments

21/11/2020

Currently, Vietnam has no regulations for international payments to be made via foreign intermediary payment operators or e-wallets.