Fintech / Regtech

In a recent speech, MAS managing director Ravi Menon shared his views on blockchain, common misconceptions and use-cases where the technology shows the most promise.

The ICO framework covers issuer eligibility, transparency in disclosures, and utilisation of proceeds. The property crowdfunding framework was first announced in Budget 2019.

Both guidelines under consultation continue to emphasise the importance of risk culture, and the roles of the board and senior managers in technology risk and business continuity management.

APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.

Highlights will include measures to accelerate financial innovation, approve online-only banks, launch a regulatory sandbox, and strengthen consumer and investor protection.

Under Japan’s Presidency this year, the G20 financial sector agenda will centre on addressing market fragmentation, technological innovation and the problems of aging societies.

The MAS' new Technology Group will centralise its technology capabilities and strengthen supervision of technology risks in the financial sector.

Banks are at high risk because they hold the data and funds of private clients, and provide access to their services through multiple online and digital channels, says Moody's Investors Service.

ASIC is looking to engage with regtech firms to develop systems that use artificial intelligence to detect misleading advertising and spot disclosure problems in financial advice.

A lobby group for startups in India is urging the government to change the criteria for shares with differential voting rights to allow founders and promoters to better safeguard their ownership control.