A code of ethics and code of conduct have been adopted by members of FinTechAlliance.ph prohibiting the harassment and shaming of delinquent borrowers.
The updated rules allow non-face-to-face onboarding, remove voice logging for client orders, and introduce higher governance standards, among others.
BNM has set out the requirements money changers must observe in non-face-to-face customer onboarding, to ensure effective and robust AML/CFT controls.
The ABA's new Banking Code of Practice takes effect from 1 July. Lenders have welcomed the changes, but the FBAA says brokers shouldn't sign the financial abuse declaration form.
The QR code system developed by Siam Commercial Bank will enable cross border payments between Cambodia and Thailand using local currencies.
The introduction of active ETFs in Hong Kong is another step towards HKEX's goal of becoming a hub for the issuance and trading of ETFs.
Paragraph 5.5 of the Code of Conduct is only applicable for unsolicited purchases of complex products. Intermediaries can apply a risk-based approach to disclosures for repeat purchases.
ISDA chief Scott O’Malia says market participants need clarity from the IASB and FASB on the accounting implications of a switch from IBORs to RFRs.
The move will help Macau diversify away from gaming as its main source of revenue, and align the territory with China’s plans for the Greater Bay Area.
Rules drafted by the PBOC and SAFE will ease investments in China's fixed income market by creating some interoperability between the QFII/RQFII and CIBM schemes.