Markets & Infrastructure

Trading & Investment

ASIC Penalises Morrison Securities for Mishandled Client Orders

By Sanday Chongo Kabange | 24/06/2023

Inadequate controls led to orders being erroneously directed to Chi-X rather than ASX, resulting in market integrity rule breaches.

Structural Regulation

FSC Korea Approves Financial Hub Development Plan

By Sanday Chongo Kabange | 23/06/2023

The financial hub development plan outline measures the FSC will undertake to promote financial hubs in South Korea.

Payments & Settlements

RBA Consults on Options for Enhancing Debit Card Market

By Sanday Chongo Kabange | 23/06/2023

The RBA seeks to prevent any one debit network from being given routing priority at issuance for domestic transactions.

Structural Regulation

FSC Korea Designates KOFIA as CD Rate Administrator

By Sanday Chongo Kabange | 23/06/2023

With KOFIA designated as the administrator, the CD rate will begin to have legal effect as a critical benchmark rate starting on 2 October.

Cloud & Infrastructure

BSP Introduces Open Finance Pilot to Advance Financial Inclusion Objectives

By Ranamita Chakraborty | 23/06/2023

The pilot involves participation from FIs to co-develop an “open, interoperable, and scalable ecosystem”, supported by the BSP and IFC.

Structural Regulation

Philippines Sets Temporary Replacement Rate for LIBOR

By Editors | 23/06/2023

The temporary O/N reference rate to replace LIBOR will be based on the 28-day BSP bill rate. A permanent benchmark and “credible” yield curve will be developed by January 2024.

Structural Regulation

New Zealand to Probe Excessive Profits in Retail Banking

By Karen Ng | 23/06/2023

New Zealand’s Commerce Commission will conduct its first-ever study to assess competition in personal banking services.

Structural Regulation

Korea Set to Update Rules to Support Overseas Expansion by Financial Firms

By Sanday Chongo Kabange | 22/06/2023

The FSC said its regulatory overhaul will make it easier for Korean financial firms to acquire, establish, invest in, and operate overseas subsidiaries.

AI Risk & Governance

ASIC Chair Cautions Against Hasty Implementation of AI Tools

By Editors | 22/06/2023

ASIC plans to extend its automated order processing rules to futures markets and update its electronic trading guidance to reflect developments with AI.