Markets & Infrastructure

Credit Risk

Malaysia to Regulate BNPL Under New Consumer Credit Act

By Sanday Chongo Kabange | 23/04/2024

The government and regulators are reportedly formulating a new Consumer Credit Act that will capture non-bank entities including BNPL providers.

Credit Risk

Hong Kong Launches New ‘One-Stop’ Platform for SMEs

By Sanday Chongo Kabange | 23/04/2024

The new ‘one-stop SME platform’ enables SMEs to “shop around” for lending services offered by the major banks.

Structural Regulation

SGX RegCo Proposes Rule Change to Empower Shareholders

By Nithya Subramanian | 23/04/2024

Part of a “value focus” approach, the rule change will require issuers to facilitate shareholder requisitioned general meetings.

Tokenisation

BIS Outlines Vision for Future Financial System, Called “Finternet”

By Manesh Samtani | 23/04/2024

The “Finternet” would enable multiple financial ecosystems to interconnect with each other, like the internet, using technologies such as tokenisation and unified ledgers.

Fraud, Scams & Cybercrime

MAS Issues 12yr Ban Against Former Manulife Agent

By Nithya Subramanian | 23/04/2024

The former agent was convicted last August for deceiving 25 victims to transfer more than S$1.2mn for fictitious investments.

Conduct, Culture & Accountability

Germany’s APAS Finds EY Violated Professional Duties in Wirecard Audits

By Nithya Subramanian | 23/04/2024

APAS said EY had insufficient audit reporting, poor internal quality controls, and poor handling of red flags that pointed to irregularities.

Payments & Settlements

India Explores Measures to Address Duopoly in Mobile Payments Market

By Ajoy K Das | 23/04/2024

Google Pay and PhonePe together account for nearly 86% of UPI transactions by volume. Support and incentives are being considered for smaller players.

Trading & Investment

SEBI Proposes Framework for Price Discovery of Investment Companies

By Ajoy K Das | 22/04/2024

A special call-auction may be enabled for listed investment companies and investment holding companies.

Trading & Investment

CSRC Issues New Rules on Investment Fund Fees and Disclosures

By Editors | 22/04/2024

The rules prohibit passive stock funds from using commissions to pay for research and lower the concentration of transaction fees that can be distributed to a single brokerage.