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Payments & Settlements
Singapore E-wallets to Gain Direct Access to FAST, PayNow
By Manesh Samtani | 30/11/2020
Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.
Market Data & Technology
NZX to Create Industry Working Group on Capital Markets Technology
By Editors | 30/11/2020
The working group will develop a roadmap to solve for New Zealand’s lack of scale and geographic isolation through the use of technology.
Payments & Settlements
Australia, Singapore to Trial Paperless Trade Using Blockchain
By Editors | 29/11/2020
The Australian Border Force, Singapore Customs, and IMDA, as well as industry groups and financial institutions, will participate in the trial.
Clearing & Post-Trade
CFTC Adopts Rule Changes to Facilitate Foreign Swaps Clearing
By Editors | 29/11/2020
The CFTC has extended no-action relief for non-US swap dealers from reporting requirements, and finalised rules for exempting non-US clearinghouses from registration requirements.
Structural Regulation
Philippine Central Bank Introduces Digital Banking Framework
By Editors | 27/11/2020
Foreign individuals and non-bank corporations are allowed to hold up to 40% of a digital bank’s voting shares, while foreign banks are allowed to hold up to 100%.
Cybersecurity
APRA Unveils Details of New Cyber Security Strategy
By Manesh Samtani | 26/11/2020
Starting next year, APRA will be asking boards to engage an external auditor to comprehensively review their compliance with CPS 234 on information security.
Conduct, Culture & Accountability
MAS Announces Measures to Develop Financial Sector Workforce
By Editors | 26/11/2020
MAS will launch a new Work-Study Support Programme to develop job-ready graduates and extend the Training Allowance Grant for company-sponsored trainees by six months.
Conduct, Culture & Accountability
NZX Formalises Role of Technology Committee in Enhancing Governance
By Editors | 26/11/2020
The specialist committee was established in April as an interim measure in response to technical issues stemming from record trading volumes.
Anti-Money Laundering
AUSTRAC Reports on Fintel Alliance Efforts to Combat Criminal Threats
By Manesh Samtani | 25/11/2020
AUSTRAC has developed an algorithm that enables Fintel Alliance to detect suspicious financial patterns while protecting the privacy of underlying reporting entities and personal data.
Sustainable Finance
Singapore, Chongqing Work to Enhance Financial Connectivity
By Sanday Chongo Kabange | 25/11/2020
MAS managing director Ravi Menon spoke of collaboration between the two cities on trade, cross-border lending, green finance, and disaster risk insurance.
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