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Conduct, Culture & Accountability
New Zealand: Conduct Issues Result in Remediation Worth NZ$150m
By Editors | 08/10/2022
Conduct issues in the life insurance and banking sectors resulted in over NZD 43 million and NZD 109 million in customer remediation, respectively.
Structural Regulation
Malaysia Establishes New Council to Drive Islamic Finance
By Editors | 07/10/2022
BNM and the SC said the newly established MIFC Leadership Council will cement Malaysia’s proposition as a leading hub for Islamic finance.
Market Abuse
HK Court Orders Founder to Buy Shares from Wronged Investors
By Editors | 07/10/2022
The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.
Trading & Investment
China Offers Tax Breaks to Private Pension Participants
By Editors | 07/10/2022
The move is expected to incentivise more FIs to participate in the private pension scheme and improve their products and services to gain market share.
Payments & Settlements
NPCI Signs MOU to Enable UPI Payments in Oman
By Editors | 05/10/2022
NPCI and Oman’s central bank will study the possibility of connecting the UPI and RuPay card systems used in India with similar systems in Oman.
Emerging Prudential Risks
Korea to Relaunch Market Stabilisation Fund This Month
By Editors | 05/10/2022
The stabilisation fund will be worth a reported $7bn and be used to inject money in the local stock market if it continues to fall.
Trading & Investment
SEBI Extends 2FA Requirement to Fund Subscription Transactions
By Editors | 05/10/2022
AMCs are already required to authenticate mutual fund redemption transactions. The requirement is being extended to include subscription transactions.
Structural Regulation
Australia Releases Report Addressing Bank Branch Closures
By Editors | 05/10/2022
The report says banks need to improve communication and support provided to local communities when regional branches close or their hours are reduced.
Structural Regulation
New Regulatory Regime for Hong Kong Auditors Takes Effect
By Manesh Samtani | 04/10/2022
The AFRC can subject auditors who commit misconduct to penalties up to HKD 10 million, or three times profit gained, whichever is higher.
Structural Regulation
Australia Consults on Possible Changes to ASIC Funding Model
By Editors | 04/10/2022
Discussion paper asks whether there are opportunities to simplify the design, structure, and legislative framework for ASIC’s industry funding model.
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