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Payments & Settlements
RBI Invites Firms to Test Cross-border Payments Tech in Sandbox
By Editors | 21/12/2020
The RBI has reduced the net worth requirement of participating firms and said it will allow partnerships and LLPs to participate.
Structural Regulation
UPDATED – China to Establish Central Register for Movable Assets Pledged for Loans
By Editors | 21/12/2020
The change is reportedly seen as a significant step for China to bolster movable assets-backed financing, a key funding channel for SMEs.
Structural Regulation
China Seeks to Improve Market Quality with New Delisting Rules
By Editors | 21/12/2020
Companies will be automatically delisted if their shares close below 1 yuan, or their market value remains below 300mn yuan, for 20 consecutive trading days.
Supervision & Enforcement
US SEC Penalises Robinhood $65m for Misleading Customers
By Sanday Chongo Kabange | 21/12/2020
The SEC said Robinhood misled customers into believing trading was commission free, while it executed customers’ orders at inferior trade prices costing them $34mn.
Trading & Investment
ASIC Probes Market Participants for Possible Best Execution Failures
By Manesh Samtani | 21/12/2020
ASIC is concerned Chi-X as an alternative venue did not see more trading activity during ASX’s November outage, as would be expected given participants’ best execution duty to clients.
Structural Regulation
SFC Unveils New Electronic Licensing Functions On WINGS
By Editors | 21/12/2020
The new online licensing platform marks an important milestone in the modernisation of the SFC’s gatekeeping function, said chief executive Ashley Alder.
Alternative Markets
HKMA Surveys PE Firms Seeking to Help Manage HK Growth Portfolio
By Editors | 21/12/2020
Interested private equity firms, local and overseas, are invited to take part in the survey on or before 22 January 2021.
Fraud, Scams & Cybercrime
Taiwan to Lower Payment Thresholds for Customer Notification
By Editors | 21/12/2020
The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards.
Structural Regulation
Hong Kong Bourse to Introduce Paperless IPO Regime in July
By Editors | 21/12/2020
From 5 July 2021, listing documents must be published solely in an electronic format, and new subscriptions must be made through online channels only.
Structural Regulation
FMA Clarifies Expectations on Use of Overseas Research in New Zealand
By Editors | 20/12/2020
Overseas firms without a New Zealand financial advice licence can supply research reports to licensed New Zealand firms, but not to retail clients.
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