ADVERTISEMENT
Payments & Settlements
HKMA Unveils New FPS Feature Allowing Link to HKID
By Sanday Chongo Kabange | 02/12/2020
From 6 December onwards, individuals can link their HKID numbers to a bank account to conveniently receive payments, the HKMA said.
Conduct, Culture & Accountability
Singapore Launches Initiative to Groom Future Private Bankers
By Editors | 02/12/2020
Private banks aim to offer 200 undergraduate traineeship positions over the next three years, benefitting from the Work-Study Support Programme recently launched by MAS.
Structural Regulation
RBI Chief Calls for Smooth Transition from LIBOR
By Sanday Chongo Kabange | 02/12/2020
Achieving a smooth transition from LIBOR will require “significant efforts” from all stakeholders, RBI governor Shaktikanta Das said.
Supervision & Enforcement
ASIC Files Court Proceedings Against CBA for Overcharged Interest
By Sanday Chongo Kabange | 02/12/2020
The overcharging of interest in overdraft accounts was caused by a systems error, which CBA tried to fix manually. ASIC says the bank broke the law over 12,000 times.
PEPs & Sanctions
US to Designate Four Companies as Linked to Chinese Military
By Editors | 02/12/2020
The companies that will reportedly be added to the list of companies linked to the Chinese military include chipmaker SMIC and oil giant CNOOC.
Anti-Money Laundering
FATF Consults on AML/CTF Frictions in Cross-border Payments
By Editors | 01/12/2020
The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.
Structural Regulation
Some USD LIBOR Settings May Continue Past End-2021
By Manesh Samtani | 01/12/2020
ICE Benchmark Administration intends to continue publishing some tenors of USD LIBOR until end-June 2023, which could allow time for most legacy contracts to mature.
Payments & Settlements
APRA Grants TransferWise Licence to Directly Access NPP
By Editors | 30/11/2020
Access to Australia’s real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.
Trading & Investment
China to Grant Domestic Investors Greater Access to Foreign Markets
By Editors | 30/11/2020
The QDLP and QDIE programmes – piloted in Shanghai, Beijing and Shenzhen – will be expanded “in the near future”, according to China’s foreign exchange regulator
Trading & Investment
China: Banks Suspend Opening of Precious Metals Trading Accounts
By Editors | 30/11/2020
Seven banks have temporarily stopped opening new accounts for precious metals trading amid concerns that heightened volatility could lead to losses and complaints.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.