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Conduct, Culture & Accountability
ASIC Reports Widespread Fee Disclosure Failures at AFS Licensees
By Editors | 03/12/2019
ASIC’s review found widespread non-compliance with fee disclosure obligations across a sample of AFS licensees and their representatives, suggesting an industry-wide problem.
Payments & Settlements
South Korea to Formally Launch Open Banking System This Month
By Editors | 02/12/2019
October’s 10-bank pilot attracted over 5.5 million bank accounts with the open banking service now expanded to include eight additional banks and fintech firms.
Supervision & Enforcement
ASIC, APRA Ink Updated MoU to Enhance Collaboration
By Editors | 02/12/2019
The updated MoU was a royal commission recommendation to enable more proactive engagement between the two regulators.
Fraud, Scams & Cybercrime
Chinese P2P Lenders to Close in Two Years
By Editors | 02/12/2019
Approved lenders can opt to convert to small finance companies in the two year grace period, as authorities moved to shut down the scandal-ridden sector.
Trading & Investment
MSCI Calls for Greater Market Reform in China
By Editors | 02/12/2019
The index provider has laid out market access concerns for Chinese authorities to resolve before any more Chinese A shares can be included in its indexes.
Structural Regulation
Japan Set to Consult on Reorganisation of TSE Boards
By Editors | 02/12/2019
The TSE will consult on the criteria for companies to move to the First Section, and measures to enhance the independence of listed subsidiaries from their parent companies.
Structural Regulation
SEBI Lists Permissible Jurisdictions for Depository Receipts Issuance
By Editors | 02/12/2019
Indian companies will be allowed to issue depository receipts on exchanges in the US, Japan, Korea, the UK, France, Germany, Canada, and India’s own international financial centre known as Gift City.
Structural Regulation
Haymarket Enters into Strategic Partnership to Further Develop Regulation Asia
By Editors | 29/11/2019
Through this partnership, both firms can look to strengthen their editorial expertise with the goal of providing their respective audiences with deeper coverage on critical issues.
Conduct, Culture & Accountability
Employee Credit Checks by FIs Are Appropriate: MAS
By Editors | 29/11/2019
It is entirely appropriate for FIs to assure themselves that their employees and representatives are in good financial standing, the MAS says.
Conduct, Culture & Accountability
CBA’s CommInsure Penalised A$700,000 for Hawking Offences
By Editors | 29/11/2019
The penalty follows last week’s guilty plea from CommInsure for conducting insurance sales by phone, where the customers had not requested to be contacted.
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