Markets & Infrastructure

Operational Risk

Singapore’s DBS Experiences Digital Payment Service Disruption

By Editors | 21/10/2023

The 20 October disruption to the bank’s PayLah service came less than a week after a weekend outage that lasted more than 12 hours.

Cloud & Infrastructure

Google to Set Up Global Fintech Headquarters in India’s GIFT City

By Mark Johnston | 20/10/2023

Google will set up its global fintech headquarters in GIFT City and invest $10bn in India’s digitisation fund.

Fraud, Scams & Cybercrime

Taiwan FSC Issues New Guidelines for P2P Lending Platforms

By Editors | 20/10/2023

P2P platform operators have to implement six risk control mechanisms, including a real-name account system and arrangements for segregating customer funds.

Structural Regulation

Hong Kong Gazettes Commencement Notice for Bankruptcy Legislation

By Sanday Chongo Kabange | 20/10/2023

The Commencement Notice seeks to appoint 29 December 2023 as the commencement date for amendments to the Bankruptcy and Companies Legislation.

Payments & Settlements

RBNZ to Amend ESAS Access Policy, Eligibility Criteria

By Editors | 20/10/2023

RBNZ consultation revealed “considerable demand” for access to ESAS by non-banks for payments and settlements, access to HQLA, and interest income.

Conduct, Culture & Accountability

ASIC Tweaks Reportable Situations Regime to Reduce Industry Burden

By Mark Johnston | 20/10/2023

Certain breaches will no longer be automatically reportable if they meet certain criteria, like if they impact only one person or don’t cause any financial loss or damage.

Fraud, Scams & Cybercrime

ICAC Arrests Three in Joint Operation with SFC, AFRC

By Manesh Samtani | 20/10/2023

The case involves suspicions of corporate fraud, corruption, and a conspiracy between a ramp-and-dump syndicate and two listed companies.

Clearing & Post-Trade

Canada to Allow T+1 Settlement Cycle for Mutual Funds

By Mark Johnston | 20/10/2023

CSA seeks feedback on amendments to allow mutual funds to voluntarily adopt T+1 settlement for subscription and redemption.

Conduct, Culture & Accountability

MAS Bans Former AXA and Aviva Financial Advisers

By Editors | 20/10/2023

The former advisers were banned for allowing unlicensed individuals to perform financial advisory services on their behalf.