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Conduct, Culture & Accountability
MAS Proposes to Revise Fair Dealing Guidelines
By Editors | 15/12/2022
MAS proposes to widen the Guidelines to explicitly include all FIs and the corresponding products and services that they offer to their customers.
Payments & Settlements
Australia Seeks Input on Strategic Plan for Payments System
By Manesh Samtani | 15/12/2022
The government will also empower the RBA to regulate digital wallet providers and improve the regulatory framework for crypto service providers.
Structural Regulation
GLEIF Confirms Utility of Embedding LEI in eSeals
By Editors | 14/12/2022
In a PoC, GLEIF demonstrated that embedding LEIs in eSeals allowed Japanese and European entities to transact digitally with greater trust.
Conduct, Culture & Accountability
ASIC Finds Product Governance Shortfalls by Small Credit Lenders
By Editors | 14/12/2022
TMDs issued by payday lenders and consumer leasing companies lacked detail in the descriptions of their products and target markets. Review triggers were also set too broadly.
Conduct, Culture & Accountability
UK FCA Fines Metro Bank for Incorrect RWA Disclosure
By Sanday Chongo Kabange | 14/12/2022
The bank published incorrect information concerning its risk-weighted assets and did not disclose the error to investors despite knowing it was wrong.
Cloud & Infrastructure
FSC Korea Unveils New Support Measures for Fintech Startups
By Sanday Chongo Kabange | 14/12/2022
The measures include new funding for innovative firms, regulatory relaxations, and improvements to the sandbox programme.
Conduct, Culture & Accountability
ASIC Directs Super Funds to Improve Complaints Handling
By Sanday Chongo Kabange | 14/12/2022
Superannuation trustees are not responding to complaints in a timely manner and are failing to notify consumers of their right to approach AFCA.
Structural Regulation
China Files WTO Complaint Over Semiconductor Export Controls
By Editors | 14/12/2022
China is separately working on a CNY 1 trillion support package to expand domestic semiconductor production and research activities.
Payments & Settlements
China, Hong Kong Set to Allow Quarantine Free Travel
By Editors | 14/12/2022
Travellers to Hong Kong will be allowed to visit restaurants and bars on arrival. Travellers to the Mainland will no longer have to quarantine.
Trading & Investment
HKEX Releases Details on Proposed Dual Counter Model
By Editors | 14/12/2022
Market makers and liquidity providers for the dual counter model will be onboarded starting in the first half of 2023.
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