Markets & Infrastructure

Conduct, Culture & Accountability

Korea: FSS Governor Calls For Culture Change at Banks

By Mark Johnston | 23/06/2024

The call for action from FSS Governor Lee Bok-hyun comes in response to multiple mis-selling and embezzlement cases in the banking sector.

Structural Regulation

China Give Small Banks Deadline to Establish Wealth Management Subsidiary

By Mark Johnston | 22/06/2024

The NFRA has reportedly given small banks until 2026 to establish a separate subsidiary if they wish to continue selling wealth management products.

Trading & Investment

HKEX to Introduce Measures to Boost Stock Connect – Report

By Sanday Chongo Kabange | 21/06/2024

New chair Carlson Tong said HKEX will introduce more measures to boost market turnover and new listings.

Payments & Settlements

Indian Banks Delayed in Joining Bharat Bill Pay System

By Ajoy K Das | 21/06/2024

Several major banks have not yet gone live on the BBPS despite a 30 June deadline for credit card payments to be processed on the interface.

Credit Risk

Hong Kong SFC Suspends Ex-PICC Investment Manager

By Sanday Chongo Kabange | 21/06/2024

The former investment manager failed to properly manage the risks of the fund, including liquidity and concentration risks.

Structural Regulation

NZ FMA Issues New Auditor Regulation and Oversight Plan

By Sanday Chongo Kabange | 21/06/2024

By ensuring a high standard of auditing we aim to increase investor confidence in the quality of the audited financial statements of reporting entities, the FMA said.

Structural Regulation

Bangladesh Tightens Norms for Appointment of Auditors

By Ajoy K Das | 20/06/2024

Market intermediaries are only allowed to appoint auditors from firms that are approved by BSEC. Errant auditors can be declared ineligible.

Trading & Investment

New Zealand Working to Improve KiwiSaver Scheme

By Editors | 20/06/2024

Recommendations for improving KiwiSaver include the introduction of a “default” contribution rate that is higher than the minimum.

Structural Regulation

Australia to Improve Outcomes for Home Loan Borrowers

By Editors | 20/06/2024

Reforms will make it easier to switch to better mortgage deals. A new review was launched to find ways to support additional competition in the banking sector.