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Conduct, Culture & Accountability
MAS Bans Ex-UOBKH Employees for Making False Statements
By Ranamita Chakraborty | 03/09/2021
The individuals provided false information to MAS when it was checking whether background checks were included in due diligence for the IPO of a Catalist listed company.
Trading & Investment
China to Set Up New SME-Focused Stock Exchange in Beijing
By Editors | 03/09/2021
President Xi Jinping announced that a new stock exchange will be set up in Beijing and reforms at the NEEQ will be deepened to further support SMEs.
CBDCs
BIS, Four Central Banks Partner to Test Cross-Border CBDC Use
By Sanday Chongo Kabange | 03/09/2021
The BIS Innovation Hub Singapore Centre will test CBDCs for international settlements with the RBA, MAS, BNM and SARB.
Structural Regulation
SGX Finalises Framework for SPAC Listings in Singapore
By Manesh Samtani | 03/09/2021
The finalised framework lowers the minimum market cap required of a SPAC listing to S$150mn from S$300mn proposed in SGX’s March consultation.
Payments & Settlements
PBOC Introduces New Business Reporting Rules for Payment Firms
By Editors | 02/09/2021
Nonbank payment firms must report new products and services, stock market listings, capital increases and other activities classified as ‘significant matters’.
Trading & Investment
HKEX, HKSTP to Collaborate on Biotech, Fintech Initiatives
By Manesh Samtani | 02/09/2021
HKEX will leverage expertise from Hong Kong Science and Technology Parks Corp to help it review biotech listing applications.
Structural Regulation
S. Korea Bans Payment Monopolies in App Stores
By Sanday Chongo Kabange | 02/09/2021
South Korea is the first country to pass legislation forcing companies like Apple and Google to offer payment alternatives in their app stores.
PEPs & Sanctions
AFMA Calls For Speedy Passage of OBU Legislation
By Editors | 01/09/2021
Delays in passing legislation to reform the Offshore Banking Unit regime could harm Australia and undermine how it is perceived by foreign investors.
Data Privacy
RBI Halts Plan to Allow New Umbrella Entities in Retail Payments
By Editors | 01/09/2021
The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India’s data localisation rules.
Conduct, Culture & Accountability
Australian Industry Bodies to Standardise Advice Fee Disclosures
By Sanday Chongo Kabange | 01/09/2021
The Financial Services Council and Financial Planning Association are developing an industry standard form to be used for advice fee disclosures.
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