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Conduct, Culture & Accountability
Australian Banks Taking Too Long to Fix ‘Fees-For-No-Service’ Failings – ASIC
By Editors | 12/03/2019
Delays attributed to poor record-keeping and systems, failures to implement methodologies to identify and compensate customers, and an overly legalistic approach at some institutions.
Trading & Investment
HKEX to Launch China A-Share Futures Contract
By Editors | 12/03/2019
The development represents a key risk management tool for international investors who need to manage their A-share equity exposure, says HKEX chief Charles Li.
Conduct, Culture & Accountability
Banks Increasingly Focused on Conduct Risk – FSB
By Editors | 12/03/2019
At an FSB workshop on compensation practices, banks reported an increased focus on conduct risk, management accountability and culture reform.
Supervision & Enforcement
SWIFT Related Fines Imposed by RBI Total $10mn Across 36 Banks
By Editors | 11/03/2019
The number of banks fined by the RBI for failing to integrate their core banking systems with SWIFT has now risen to 36, with fines totaling $10.16mn.
Payments & Settlements
MAS’ Ravi Menon on Blockchain Misconceptions – Speech
By Manesh Samtani | 11/03/2019
In a recent speech, MAS managing director Ravi Menon shared his views on blockchain, common misconceptions and use-cases where the technology shows the most promise.
Conduct, Culture & Accountability
AFCA Finalises Over 18,000 Complaints in Four Months
By Editors | 08/03/2019
Australia’s four months old ‘one stop shop’ for financial services dispute resolution has finalised 18,390 complaints, yielding more than A$54mn in awards to consumers and small businesses.
Structural Regulation
China’s AMAC Proposes Stricter Rules for Private Funds
By Manesh Samtani | 08/03/2019
Private equity, venture capital and hedge fund managers are facing more stringent requirements to register a product with the Asset Management Association of China.
Trading & Investment
Shanghai Exchange Signals Possible End-May Launch for New Tech Board
By Editors | 08/03/2019
The SSE gave its first indication of a launch date for the new science and technology board in a WeChat post, saying the trading system will be ready at the end of May.
Trading & Investment
S. Korea FSC Chair Renews Call to End Stock Transaction Tax
By Editors | 08/03/2019
Lawmakers want the securities transaction tax abolished. The government want a more gradual approach. FSC chairman Choi Jong-ku welcomes either discussion.
Tokenisation
Malaysia Consults on Frameworks for ICOs, Property Crowdfunding
By Editors | 08/03/2019
The ICO framework covers issuer eligibility, transparency in disclosures, and utilisation of proceeds. The property crowdfunding framework was first announced in Budget 2019.
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