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Payments & Settlements
Australia Commences Roll-out of New Payments Service PayTo
By Editors | 04/07/2022
PayTo checks upfront for adequate funds in the paying customer’s account at payment initiation, reducing rejected payments and manual exception handling.
Data Privacy
China Proposes New Cross-Border Data Transfer Mechanism
By Editors | 01/07/2022
Eligible companies can transfer data across borders by signing standard contracts with overseas recipients that align with China’s data protection law.
Data Privacy
Thai SEC Launches Open Data Portal to Enhance Transparency
By Editors | 30/06/2022
The data centre provides information on business operators, licensed individuals, and the products available – including digital assets.
DeFi & Web3
WEF Offers Guidance to Policymakers on DAO Structures, Risks
By Editors | 28/06/2022
DAOs may disrupt whole sectors but they also confront challenges of cybersecurity, governance, and regulatory uncertainty, says a new WEF report.
Cloud & Infrastructure
RBI Issues Draft Rules on Managing IT Outsourcing Risks
By Sanday Chongo Kabange | 28/06/2022
Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.
Data Privacy
Impacts of New PCPD Guidance on Cross-border Data Transfers
By Albert Yuen | 27/06/2022
FIs in Hong Kong should review whether their commercial agreements contain requirements equivalent to the recommended model contractual clauses, say Albert Yuen and Eunice Lee.
Payments & Settlements
China Approves Plans to Strengthen Payments, Fintech Regulation
By Editors | 27/06/2022
The plan, approved by President Xi Jinping, calls for the “complete inclusion” of payments and other financial activities within regulations.
Structural Regulation
RBI Gets Recommendations on Streamlining Regulatory Requirements
By Editors | 25/06/2022
The RBI’s Regulations Review Authority has also recommended the total elimination of paper-based returns.
KYC & CDD
Corporate Registries Should Issue LEIs in Bulk: BIS Paper
By Manesh Samtani | 25/06/2022
Bulk LEI issuance by corporate registries would enhance the efficiency and reliability of data collection and reduce the per-company cost of applying for an LEI.
Payments & Settlements
DBS Launches Overseas QR Payments for Singapore Users
By Editors | 24/06/2022
Users of the DBS mobile payment and wallet service known as PayLah! can scan UnionPay QR codes to pay in 45 countries.
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