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Fintech / Regtech
UK Proposes to Lower Limit for APP Fraud Reimbursements
By Nithya Subramanian | 06/09/2024
The PSR has proposed to revise its December 2023 plan to reduce the reimbursement limit from GBP 415,000 to GBP 85,000.
AML / KYC
AUSTRAC Issues New Guidance on Outsourcing AML Functions
By Editors | 06/09/2024
Among other things, the guidance covers due diligence of service providers, outsourcing agreements, management and oversight, and performance monitoring.
Fintech / Regtech
Australian Government Begins Implementing New AI Policy
By Editors | 06/09/2024
DTA said it will publish a training module by early October, refresh its GenAI guidance, pilot an AI assurance framework, and develop technical standards.
Securities / Derivatives
FINRA Fines BofA & Merrill Lynch $3m for Surveillance Failures
By Nithya Subramanian | 04/09/2024
FINRA said the parameters of the surveillance systems were set too narrowly, leading to failures to detect potentially manipulative trading.
Fintech / Regtech
RBI Sets Out Five-point Agenda for Future Financial Landscape
By Ajoy K Das | 04/09/2024
RBI governor Shaktikanta Das outlined five strategic priorities, including sustainable finance, cybersecurity, and financial infrastructure.
Fintech / Regtech
New Zealand Consults on CDR for Banking, Electricity Sectors
By Sanday Chongo Kabange | 04/09/2024
The proposal would require ANZ, BNZ, ASB and Westpac to implement open banking from 1 Dec 2025 and Kiwibank from 1 Dec 2026.
Fintech / Regtech
Cambodia, Korea Launch Cross-border Payments Link
By Nithya Subramanian | 02/09/2024
Users of Korea’s Jeonbuk Bank can make payments at more than 3.3 million stores in Cambodia by scanning KHQR codes.
Fintech / Regtech
BSP to Closely Scrutinise New Digital Banking Applicants
By Ranamita Chakraborty | 02/09/2024
Fitch Ratings says close scrutiny of the new applicants is likely given that the majority of the existing digital banks are still loss-making.
Fintech / Regtech
KOFIA Introduces New Warning System for K-OTC Market
By Editors | 02/09/2024
The new system will warn investors when K-OTC stocks are exhibiting signs of market manipulation or abnormal price surges.
Fintech / Regtech
JPX Launches New Data Portal to Facilitate Investor Decision-making
By Editors | 01/09/2024
The new “JPxData Portal” aims to make data on Japanese financial markets more accessible to both foreign and domestic investors.
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