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Payments & Settlements
SEBI to End Usage of Pool Accounts for Mutual Fund Transactions
By Editors | 26/12/2019
SEBI found that trading and clearing members used by mutual funds were diverting client funds and securities to meet their own or third-party margin or settlement obligations.
Conduct, Culture & Accountability
Australia Proposes Industry-Funded Compensation Scheme of Last Resort
By Editors | 25/12/2019
The scheme will ensure that consumers and small businesses receive a payout in cases where compensation has been awarded but the financial services provider is unable to pay.
Cloud & Infrastructure
ASIC Publishes Findings from 2019 Regtech Initiatives
By Editors | 25/12/2019
Participants said the exponential growth in data volume means the financial services industry must consider implementing regtech as an ‘imperative’ to undertake risk management and compliance functions.
PEPs & Sanctions
ISDA Calls For Guidance on Handling of Derivatives Impacted by Sanctions
By Editors | 25/12/2019
ISDA proposes 8 principles sanctions authorities can consider to ensure safe operation of markets, and minimise derivatives market disruption and economic consequences for non-sanctioned entities.
Conduct, Culture & Accountability
ASIC, APRA Issue Updates on Governance, Accountability
By Editors | 25/12/2019
The updates are a response to the Royal Commission, which called on both regulators to reform their internal accountability frameworks to reflect requirements prescribed by BEAR.
Clearing & Post-Trade
HKEX to Shorten IPO Settlement to Single Day
By Editors | 25/12/2019
HKEX hopes to shorten Hong Kong’s five-day IPO settlement process to just one day by end-2020.
Conduct, Culture & Accountability
SFC Fines Adamas Asset Management for Disclosure Failings
By Editors | 24/12/2019
The asset manager was fined HK$2.5mn for filing 339 incorrect or late notifiable interest disclosures to the SEHK and eight listed companies.
Payments & Settlements
PayPal Obtains Online Payments Licence in China
By Editors | 24/12/2019
PayPal’s acquisition of a majority stake in Gopay gives it access to licences that allow it to offer online, mobile and cross-border renminbi payments.
Credit Risk
ASIC Launches Court Proceedings Against Volkswagen Financial Services
By Editors | 24/12/2019
ASIC says Volkswagen contravened the responsible lending provisions of the National Credit Act in relation to 49,380 loan contracts.
Structural Regulation
Macau Banks Encouraged to Set Up on Mainland: CBIRC
By Editors | 24/12/2019
China has unveiled a raft of policies to increase financial cooperation with Macau, largely seen as a reward for the city’s adherence to ‘One Country, Two Systems’.
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