Markets & Infrastructure

Data Privacy

Australia Open Banking Regime Reaches New Milestone

By Editors | 07/11/2021

Major banks can enable data sharing for corporate customers and business partnerships. Non-major banks face enforcement action for non-compliance with their data sharing obligations.

Conduct, Culture & Accountability

Australia Tables Final Tranche of Royal Commission-related Bills

By Editors | 06/11/2021

Legislation was introduced to establish the FAR and CSLR. Separate bills were introduced to improve the superannuation system and outcomes for litigation funding participants.

Conduct, Culture & Accountability

Bank Compensation Practices More Advanced Than Other FIs: FSB

By Editors | 05/11/2021

The use of balanced scorecards based on KPIs in determining compensation is “critical” to promoting a sound risk culture in a firm, the FSB says.

Structural Regulation

PBOC Declares Offshore Online Brokers Illegal in China

By Darien Choong | 05/11/2021

Offshore online brokerages have been offering Chinese investors trading services for US and Hong Kong securities, without first obtaining a licence in China.

Structural Regulation

SFC Imposes Tougher Requirements for ILAS Products

By Manesh Samtani | 04/11/2021

ILAS products should be designed fairly and deliver fair outcomes. Issuers should lower surrender charges. Product features should not be unduly complex.

Structural Regulation

S. Korea to Relax Reporting Rules for FIs Investing Overseas

By Editors | 04/11/2021

The proposed rule changes seek to ease the reporting burden faced by financial firms with business operations and investments in overseas markets.

Structural Regulation

DSB Seeks Feedback on Legal Framework for UPI Service

By Editors | 04/11/2021

The Derivatives Service Bureau proposes to use a single overarching legal agreement for users subscribing to OTC ISIN and UPI Services.

Trading & Investment

MAS Proposes to Ease Retail Investor Access to Funds

By Manesh Samtani | 04/11/2021

Under the changes, only a small group of more complex CIS would continue to be considered complex products and subject to additional disclosure requirements.

Conduct, Culture & Accountability

ASIC Finds Conflict Management Failures at Super Funds

By Ranamita Chakraborty | 03/11/2021

ASIC identified a “clear failure” to identify investment switching by directors and executives of superannuation trustees as a source of potential conflict.