Fintech / Regtech

HKMA Issues Guidance for Banks on Using Generative AI

By Sanday Chongo Kabange | 20/08/2024

The HKMA encourages banks to proactively explore the use of GenAI to enhance consumer protection and better tailor products to individual customers.

Enforcement

FSS Korea Assessing Data Protection at Naver Pay & Toss

By Editors | 20/08/2024

KakaoPay shared customer credit information with Alipay without consent. The FSS is assessing whether Naver Pay and Toss had similar breaches.

Fintech / Regtech

Getting Your Ducks in a Row for APAC Rules Rewrites

By Priya Kundamal | 19/08/2024

DTCC’s Priya Kundamal discusses the lessons learned from markets that have implemented the first phase of changes to derivatives reporting rules.

Fintech / Regtech

Hong Kong SFC Proposes to Abolish Mixed Media Offers

By Sanday Chongo Kabange | 19/08/2024

The SFC says MMOs have become “obsolete” since the introduction of the paperless listing and subscription regime in 2021.

Fintech / Regtech

HKEX Consults on Expanding Paperless Listing Regime

By Sanday Chongo Kabange | 19/08/2024

The proposed reforms will provide securities holders with electronic options to give instructions to issuers, receive payments such as dividends, and pay subscription monies for offers.

Fintech / Regtech

RBI Tightens Rules for P2P Lending Platforms

By Ajoy K Das | 19/08/2024

P2P lending platforms are now prohibited from providing credit guarantees, assuming credit risk, or offering liquidity options.

Fintech / Regtech

US Regulator to Crack Down on ‘Time-wasting’ Chatbots Used by FIs

By Editors | 17/08/2024

The CFPB will issue rules or guidance to regulate the use of “ineffective and time-wasting chatbots” by FIs in lieu of customer service.

Fintech / Regtech

Japan FSA to Start Using AI for Monitoring Soundness of FIs

By Editors | 17/08/2024

The new system is being put in place to speed up the detection of issues in the financial system and help prevent financial crises and bank failures.

Fintech / Regtech

Vietnam: HoSE Launches New Reporting System for Listed Companies

By Editors | 16/08/2024

HoSE emphasised the importance of ensuring submissions are accurate, comprehensive, and comply with reporting specifications.

Fintech / Regtech

Korea: FSS Probe Reveals Data Sharing Breaches by KakaoPay

By Nithya Subramanian | 16/08/2024

The FSS found that KakaoPay shared personal and credit information of tens of millions of users with Alipay without their consent.

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