RBNZ Calls on Banks to Enhance Financial Inclusion Initiatives

11/12/2024

The RBNZ identified good practices for deposit takers to consider embedding in their current practices to support financial inclusion.

Capital / Liquidity

RBNZ Publishes Results of ‘Digital Cash’ Consultation

11/12/2024

If ‘digital cash’ is introduced, the earliest it would be is 2030. The RBNZ confirmed that issuing physical cash would remain a priority.

ESG / Sustainability

Hong Kong Launches Sustainability Disclosure Roadmap

11/12/2024

Large publicly accountable entities including financial institutions will be required to fully adopt the ISSB standards by 2028.

Market Infrastructure

OECD Offers Recommendations on Boosting Philippine Capital Market

11/12/2024

The recommendations include measures to improve corporate governance, ease listing requirements and deepen the investor base.

Fintech / Regtech

BSP Extends Cyber Risk Management Software to All Banks, VASPs

10/12/2024

The BSP said it is expanding the use of its cyber risk management software known as ASTERisC* to all banks and VASPs.

AFCA ‘Refines’ Approach to Dispute Resolution Following Review

10/12/2024

AFCA said it has completed a 3-year programme to respond to an independent review of its operations and “redefined” its approach to external dispute resolution.

Enforcement

ASIC Calls on Government to Ban Unfair Trading in Financial Services

10/12/2024

ASIC’s Alan Kirkland says the proposed ban is needed to combat “dark patterns” which “distort, subvert, and undermine consumer choice”.

AML / KYC

Australia Sets Out Beneficial Ownership Disclosure Policy for Unlisted Companies

09/12/2024

Beneficial ownership information will be accessible to journalists, academics, AML/CTF reporting entities, regulators and law enforcement.

Enforcement

HKMA Fines China CITIC Bank for Transaction Monitoring Deficiencies

08/12/2024

The HKMA said 13 out of a total of 33 detection rules and two core model rules had not been implemented as intended.