The move is part of a broader crackdown on irregular practices and risks in the P2P sector, and will provide greater protection to investors in online lending platforms.
Institutional investors will be exempt from disclosing major shareholding changes when exercising their rights to remove law-breaking executives or to push for improved governance.
Banks and SVF operators are asked to explore how technology can be used to more effectively and efficiently combat risks, including through the use of analytics in monitoring.
The task force recommends easing rules for loan asset securitisation, and to allow secondary market participation from funds and insurers.
The project aims to reduce the documentary procedures required in processes related to share issuances and offerings, securities registration, settlement and delivery, and KYC.
The State Bank of Vietnam has issued a circular outlining seven conditions under which it will impose ‘special control’ over credit institutions.
Companies will no longer be required to have three years of consecutive profits to list on the main board of the Colombo Stock Exchange.
Collecting data in a machine-readable format will increase efficiency by removing the need for manual processes and reducing the risk of human errors, MAS says in a consultation paper.
Under new guidelines, rules limiting how much financial firms can invest in non-financial sector tech firms will be lifted, and investment will be allowed in a wider range of fintech firms.
The revised standards will require auditors to disclose the reasons for issuing a qualified opinion in financial statements starting from March 2020.