Market Infrastructure

Enforcement

Australia Consults on ASIC Industry Funding Levy Amendments

By JP Reimann | 26/04/2018

Australia released new draft regulations to make technical amendments to the levies in the industry funding framework; consultation closes on 14 May 2018.

Fintech / Regtech

Philippines Launches Real Time E-Payments Platform InstaPay

By JP Reimann | 24/04/2018

Philippine central bank launch of InstaPay will enable real-time electronic fund transfers up to PHP50,000 per day through 20 participating institutions.

Market Infrastructure

SEBI Releases New Guidelines for RTAs, Corporate issuers

By Garima Chitkara | 23/04/2018

New guidelines strengthen risk management, documentation and communication norms for RTAs (registrar and share transfer agents).

Market Infrastructure

Thailand Central Bank Requires E-Money Providers to Register

By JP Reimann | 23/04/2018

BOT requires all e-money, card and fund transfer service providers to register or seek approval from the central bank by 14 August.

AML / KYC

Banks Should Implement Wolfsberg KYC Initiative – MAS

By JP Reimann | 23/04/2018

MAS urges Singaporean banks to incorporate Wolfsberg due diligence questionnaire in risk assessment processes relating to correspondent banking relationships.

Fintech / Regtech

Ant Financial – A Disruptive Force for Regulators

By Peter Guy | 22/04/2018

Blurring the regulatory distinction between banking and financial technology creates both opportunity and pitfalls.

Big Picture

APAC Firms Failing at Cyber Breach Detection – Report

By Manesh Samtani | 22/04/2018

Asia Pacific firms take over 16 months to detect breaches, compared to over three months globally; over 35 months if breaches detected by external parties.

Market Infrastructure

‘Significant’ Governance Progress from Australian Banks – McPhee Report

By Manesh Samtani | 20/04/2018

Key initiatives introduced at banks include customer advocacy programmes, whistleblower protection policies and conduct background checks to stamp out staff with poor behaviour records.

Fintech / Regtech

Hong Kong Work Plan Includes Incentives for Fund Industry

By Manesh Samtani | 20/04/2018

Government reviewing and enhancing existing tax concession arrangements for fund industry; HKMA to launch real-time payments, issue virtual bank licences this year.