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Conduct, Culture & Accountability
FSS Korea to Reorganise Consumer Protection Department
By Editors | 24/01/2020
The FSS will reorganise its consumer protection department to boost supervision of high-risk financial products, and establish suptech and regtech teams.
Data Privacy
Australia Considers Opening ‘Write’ Access Under Open Banking
By Editors | 24/01/2020
The government will consider expanding the consumer data right to allow ‘write’ access by entities other than banks, similar to how the EU’s PSD2 operates.
Trading & Investment
RBI Eases Limits on FPI Investment in Debt Securities
By Editors | 24/01/2020
RBI has re-opened the ‘voluntary retention route’ for FPI investments in debt, doubling the investment cap. Short-term investment limits have also been eased.
Structural Regulation
Grab, Razer Considering Malaysia Digital Bank Licences – Report
By Editors | 24/01/2020
CIMB, Hong Leong Bank, Maybank, Grab, Razer, AirAsia, Axiata are reportedly considering submitting bids for Malaysian digital bank licences.
Structural Regulation
KRX to Ease Listing Requirements for Startups
By Editors | 24/01/2020
An existing fast-track process for promising startups to list on the KOSDAQ market will be extended to the main KRX bourse in 2020.
Conduct, Culture & Accountability
Australia Proposes Broad Extension of Financial Accountability Regime
By Manesh Samtani | 24/01/2020
FAR will replace BEAR and apply to insurers, superannuation entities, financial holding companies and eventually ASIC licensees, with higher penalties for breaches.
Structural Regulation
FSC Korea Eases Five Percent Rule in Support of Shareholder Rights
By Editors | 23/01/2020
Reporting requirements are being eased for investors seeking to exercise shareholder rights in relation to corporate governance, executive pay and dividend policy.
Anti-Money Laundering
Singapore, Brunei Central Banks to Expand Cooperation
By Editors | 23/01/2020
MAS and AMBD have committed to new areas of cooperation, including financial sector development, cross-border supervision, crisis management and AML/CFT.
Resolution & Recovery
HKMA Consults on Contractual Stay Provisions in Financial Contracts
By Editors | 23/01/2020
FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.
CBDCs
HKMA, BOT Announce Outcomes of Joint CBDC Research
By Editors | 23/01/2020
In 3Q 2019, eight Thai banks and two Hong Kong banks (HSBC and ZA Bank) participated in a THB-HKD cross-border corridor network PoC using a CBDC.
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