Resolution & Recovery

Japan’s Kirayaka Bank Gets 13 More Years to Repay Public Funds

28/09/2024

Kirayaka Bank has received approval from the FSA and its parent company’s shareholders to postpone repayment of $140 mn in public funds.

Sustainable Finance

Australian Treasurer Makes First Official China Visit in 7 Years

28/09/2024

Discussions focused on strengthening ties with a focus on trade, investment, decarbonisation, and reducing the regulatory burden on businesses.

Data Privacy

South Korea PIPC Fines Worldcoin for Privacy Law Violations

27/09/2024

The PIPC said Worldcoin did not adequately inform users about how their biometric data would be used or allow for users to request deletion of their data.

Payments & Settlements

Australia Rolls Out Merchant Choice Routing for Mobile Payments

27/09/2024

AP+ said merchants will for the first time have the choice to process mobile wallet payments via the lower-cost eftpos network.

Structural Regulation

Japan FSA Approves Merger Between Two Regional Banks

26/09/2024

Fukui Bank and Fukuho Bank are being granted JPY 3 billion in financial assistance from the government to cover the merger costs.

Cryptocurrency

ASIC Seeks to Require Crypto Firms to Obtain AFS Licence

26/09/2024

Commissioner Alan Kirkland said ASIC is seeking to bring crypto businesses into the existing financial regulatory framework.

Supervision & Enforcement

Australia to Launch Inquiry Into Collapse of Dixon Advisory

26/09/2024

The inquiry will explore the actions of individuals involved, ASIC’s response, and the implications for the CSLR.

Operational Risk

APRA Revises Reporting Requirements for Superannuation Entities

25/09/2024

The revisions will improve transparency on the super funds’ investment costs and trustees’ financial statements data.

Market Risk

APRA Remakes IRRBB Standard as Stopgap Until Revisions Take Effect

25/09/2024

APRA has remade its existing IRRBB standard so it continues to apply until 1 October 2025, when revisions to the standard take effect.