Markets & Infrastructure

Conduct, Culture & Accountability

ANZ Faces Class Action for Over Credit Card Interest Charges

By Editors | 08/12/2021

The class action alleges ANZ contravened the ASIC Act by charging retrospective interest and interest on purchases that were paid off in a timely manner.

Structural Regulation

CSRC to Streamline Regulatory System for Listed Companies

By Darien Choong | 08/12/2021

Rules and regulations from the CSRC, SSE and SZSE will be merged and integrated into 182 regulations, a reduction of 60 percent.

KYC & CDD

Thailand Set to Launch ID Checking System for Foreign Bond Investors

By Mark Johnston | 08/12/2021

Beginning 4 January 2022, all non-resident investors trading debt securities must register with the BOT and settle trades through segregated securities accounts.

Structural Regulation

Taiwan FSC to Increase Flexibility of OBU Account Regulations

By Darien Choong | 08/12/2021

Restrictions on fund movements and parking of funds in offshore banking unit accounts will be eased, the FSC said.

Payments & Settlements

BSP Urges Rural Banks to Promote Financial Inclusion Through Tech

By Mark Johnston | 07/12/2021

As of end-June 2021, there were over 3,000 rural banks nationwide. However, only 21 of them offer PESONet and 11 offer InstaPay for electronic fund transfer services.

Structural Regulation

HKEX Plans to Open New York Office in Early 2022 – Report

By Editors | 07/12/2021

The planned New York office will reportedly comprise only about five staff, subject to HKEX obtaining the necessary regulatory licences.

Trading & Investment

CBIRC Authorises Insurers to Engage in Securities Lending

By Mark Johnston | 07/12/2021

The move will improve China’s short-selling mechanism, which will decrease market volatility, improve price discovery, reduce market risk, and create additional income for insurers.

Clearing & Post-Trade

Industry Bodies Set Roadmap for Shorter US Equities Settlement Cycle

By Sanday Chongo Kabange | 07/12/2021

Shortening the settlement cycle to T+1 is expected to reduce risks and costs for the securities industry, but also present challenges for foreign market participation.

Conduct, Culture & Accountability

China to Redeploy Retiring Execs from Established to Smaller FIs

By Darien Choong | 07/12/2021

Retiring senior professionals from large FIs will have the opportunity to serve as senior executives, independent directors or external supervisors at small and mid-sized banks and insurers.