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Markets & Infrastructure
AI Risk & Governance
Korea to Allow Sale of Pension Products That Use AI
By Editors | 23/07/2024
Firms that passed a review can apply for designation as “innovation financial services” in September and sell AI-driven pension products online in December.
Conduct, Culture & Accountability
APRA Requires OnePath Custodians to Pay A$10.7m
By Sanday Chongo Kabange | 23/07/2024
Deputy Chair Margaret Cole said APRA’s patience for entities who are still struggling with foundational issues has “run out”.
Cryptocurrency
Hong Kong Lists Asia’s First Inverse Bitcoin ETF
By Sanday Chongo Kabange | 23/07/2024
The new ETF was issued by CSOP Asset Management, which was also first to launch Asia’s first crypto futures ETFs in December 2022.
Payments & Settlements
Cambodia to Allow Tourists to Use Bakong Payment App
By Nithya Subramanian | 23/07/2024
Tourists visiting Cambodia will be able to download the Bakong app and use a credit card from their home country to top up the wallet.
Structural Regulation
TAIFEX Amends Rules to Increase Penalties for Violations
By Editors | 23/07/2024
The amendments aim to enhance information security standards within futures firms, and better align with penalties in the securities market.
Market Data & Technology
Tokyo Bourse Now Requires Earnings Reports in HTML Format
By Editors | 23/07/2024
The TSE has been testing the use of HTML format for disclosures by listed companies since December 2021. HTML submission is now mandatory.
Conduct, Culture & Accountability
Korea FSS Punishes Brokerage Firm for Mis-selling PE Funds
By Editors | 22/07/2024
Shinyoung Securities failed to properly explain the investment risks to customers when selling Lime and Discovery private equity funds.
Market Data & Technology
China Publishes New Rules for Commodity Price Indexes
By Editors | 22/07/2024
The rules specify the requirements for entities that compile and publish price indexes including disclosure, naming and internal control requirements.
Conduct, Culture & Accountability
MUFG Pledges to Prevent Recurrence of ‘Firewall’ Breaches
By Editors | 22/07/2024
MUFG will cut the pay of several top executives and has pledged to implement specific improvement measures to prevent any recurrence.
Payments & Settlements
Indonesia, UAE Central Banks Enhance Payments Cooperation
By Sanday Chongo Kabange | 22/07/2024
BI and CBUAE will create a cross-border QR payment linkage that will use direct local currency exchange rate quotations from appointed dealer banks.
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