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AI Risk & Governance
S. Korea Passes Law Allowing Robo Advisers to Manage Funds
By Editors | 18/04/2019
Korea is allowing robo advisers to operate funds, provided they are managed in line with disclosed objectives and have security breach prevention measures in place.
Cloud & Infrastructure
S. Korea FSC Accepts First Nine Fintech Sandbox Participants
By Editors | 18/04/2019
South Korea’s financial regulator has announced the first nine fintech services that it will allow to operate in its regulatory sandbox.
Structural Regulation
SSE Publishes Rules for Sponsors of Sci-Tech Board IPOs
By Editors | 18/04/2019
IPO sponsors will be required to hold stakes of 2-5% in the companies they help list on Shanghai’s new science and technology board.
Clearing & Post-Trade
Settlement Workflow Needs to be Fully Automated – DTCC
By Editors | 18/04/2019
Settlement processes are attracting more attention as regulators require shorter and more certain settlement, with potential penalties for noncompliance.
Payments & Settlements
South Korea to Debut Open Banking in December
By Editors | 17/04/2019
Following two months of industry deliberation, the FSC has said the new open banking system will be piloted in October, and fully implemented in December.
Supervision & Enforcement
APRA Adopts New, Tougher Enforcement Approach
By Editors | 17/04/2019
Under the new enforcement approach, APRA will be more willing to use its full range of powers to deter bad practices and hold entities and individuals to account.
Trading & Investment
China Announces Tax Breaks for Investors in CDRs
By Editors | 17/04/2019
Investors will be exempt from tax on profits from trading CDRs for three years, in addition to preferential tax treatment on dividend income.
Clearing & Post-Trade
Malaysia Consults on Migration to Scripless Securities Market
By Editors | 17/04/2019
Bursa Malaysia has issued new rule amendments to facilitate a move towards paperless record keeping and certificate issuance for the securities market.
Conduct, Culture & Accountability
Citigroup Australia to Refund Customers for Complex Product Losses
By Editors | 16/04/2019
The A$3mn compensation programme follows an ASIC investigation which found that 114 retail investors lost money from investing in complex products based on improper advice.
Fraud, Scams & Cybercrime
Deloitte Indian Unit Under Investigation in IL&FS Case
By Editors | 16/04/2019
A letter from a whistleblower at Deloitte’s local India unit has triggered a malpractice investigation into its role as auditor for the troubled IL&FS group.
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