Fintech / Regtech

Fintech / Regtech

Banks Not Using Latest RegTech Solutions Must Explain Why – ASIC

By Editors | 29/03/2019

ASIC reportedly plans to force banks to explain why they aren’t using the latest technology to improve regulatory compliance, including systems offered by regtech startups.

Fintech / Regtech

HKMA Approves Three Virtual Banks, Five More Being Considered

By Editors | 27/03/2019

The three newly licenced virtual banks are joint ventures involving BOCHK, JD Digits, Jardines, Standard Chartered, HKT, PCCW, Ctrip, ZhongAn Online and Sinolink.

Capital / Liquidity

New Internet-Only Banks in S. Korea to Get Grace on Basel Rules

By Editors | 26/03/2019

The FSC wants to grant new internet-only banks three years’ grace on Basel III requirements to ease the regulatory burden during the early stages of their business operation.

Fintech / Regtech

Singapore, Australia Fintech Bodies Agree to Collaborate

By Editors | 26/03/2019

FinTech Australia and the Singapore Fintech Association have agreed to collaborate on fintech initiatives across ASEAN and Australia. The MoU was signed at Money20/20 in Singapore last week.

Fintech / Regtech

RBI to Issue Regulatory Sandbox Guidelines Within 2 Months

By Editors | 26/03/2019

The RBI will set up a regulatory sandbox and create an ecosystem which promotes collaboration in fintech, central bank governor Shaktikanta Das said on Monday.

Fintech / Regtech

GFMA, PwC Identify Technology Challenges for Investment Banks

By Manesh Samtani | 22/03/2019

A new report from the GFMA and PwC says third-party providers could pose a challenge to banks’ core offerings if banks are not keeping pace with innovation.

AML / KYC

MAS Details Enforcement Outcomes, Priorities in Inaugural Report

By Manesh Samtani | 20/03/2019

The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.

Crypto / Digital Assets

Japan to Impose Margin Trading Limits in Cryptocurrency Sector

By Editors | 20/03/2019

New rules will limit cryptocurrency margin trading to two-to-four times initial deposits and require exchanges offering margin facilities to register separately with government.

Enforcement

Singapore Court Rules in First Case Involving Cryptocurrency

By Manesh Samtani | 19/03/2019

The Singapore International Commercial Court has ruled that crypto exchange Quoine was liable for a “breach of contract and breach of trust” by reversing seven trades in April 2017.