Markets & Infrastructure

Payments & Settlements

Google Recommends India UPI Model for New US ‘FedNow’ Service

By Editors | 19/12/2019

UPI adoption has grown from 100,000 to 1.15 billion monthly transactions in four years, with 140 member banks using its rails to enable payments for customers.

Conduct, Culture & Accountability

ASIC Approves ABA’s Updated Banking Code of Practice

By Editors | 18/12/2019

ASIC has given its final approval for the new version of the Banking Code of Practice, which implements recommendations from the Royal Commission.

Trading & Investment

FSB Report Highlights Risks of Continued LIBOR Reliance

By Editors | 18/12/2019

In its latest progress report on benchmark reform implementation, the FSB calls for “significant and sustained efforts” to transition away from LIBOR by end-2021.

Supervision & Enforcement

ASIC Launches Court Proceedings Against NAB Over Service Fees

By Editors | 18/12/2019

NAB is alleged to have broken the law more than 12,000 times by charging customers fees for no service and issuing defective fee disclosure statements.

Conduct, Culture & Accountability

IOSCO Offers Guidance on Reducing Conflicts in Debt Capital Raising

By Editors | 18/12/2019

The guidance includes proposed regulatory measures to address potential conflicts of interest and associated conduct risks that could arise in the debt capital raising process.

Conduct, Culture & Accountability

ASIC Urges More Progress to Improve Insurance in Superannuation

By Editors | 18/12/2019

ASIC has observed improvements by a “significant number of trustees” as a result of the industry’s implementation of the Insurance in Superannuation Voluntary Code of Practice.

Structural Regulation

SEBI Restricts FPI Service Provisioning by Local Asset Managers

By Editors | 18/12/2019

Asset management companies can provide management and advisory services to “appropriately regulated entities” such as pension funds, insurance companies, banks and mutual funds.

Structural Regulation

Taiwan to Boost Competitiveness as Financial Centre

By Editors | 18/12/2019

Taiwan will relax its rules on financial products, expanding its OBU business, and boost the resilience and innovativeness of Taiwanese financial institutions.

Fraud, Scams & Cybercrime

New Zealand Passes Bill to End Predatory Lending

By Editors | 17/12/2019

Effective from April 2021, the bill will cap the interest and fees on loans at 100% of the loan amount and introduce a 0.8% per day rate cap for high-cost loans.