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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
Payments & Settlements
Cambodia Selects Three Banks to Pilot QR Code System
By Editors | 21/06/2019
The QR code system developed by Siam Commercial Bank will enable cross border payments between Cambodia and Thailand using local currencies.
Cloud & Infrastructure
Singapore Banks Well-Equipped Against Fintech Threat: Moody’s
By Garima Chitkara | 20/06/2019
Singapore’s three largest banks are well placed to ward off threats to their market share by fintech firms, even as friendly regulatory policies encourage greater growth in the sector.
Structural Regulation
HSBC Scraps Fees Ahead of Virtual Bank Launches
By Manesh Samtani | 20/06/2019
HSBC will remove below-balance, counter transaction and annual fees for most personal savings accounts as it braces for incoming competition from newly approved virtual banks.
Clearing & Post-Trade
UPDATED – S. Korea Moving to Paperless Securities in September
By Editors | 19/06/2019
South Korea’s Cabinet has approved an ordinance to introduce an electronic securities system for all listed stocks and bonds from 16 September.
Clearing & Post-Trade
SFTR: An Opportunity to Upgrade, Automate
By Manesh Samtani | 17/06/2019
DTCC’s Val Wotton and Oliver Williams explain the challenges SFTR presents in Asia, and how firms can best prepare in the lead-up to implementation starting in April 2020.
Payments & Settlements
RBA Proposes Financial Penalties for Slow NPP Adoption
By Editors | 14/06/2019
The RBA recommends the introduction of an enforceable sanctions regime and possible financial penalties for NPP participants that do not support core capabilities within a specific period of time.
Cloud & Infrastructure
S. Korea FSC Accepts Six More Fintech Sandbox Participants
By Editors | 13/06/2019
The FSC has approved six more fintech services for the regulatory sandbox, bringing the total number of approved companies to 32.
Structural Regulation
Hong Kong Proposes Insurance Connect with China
By Editors | 13/06/2019
The proposed plan will allow Hong Kong insurers to set up offices in Guangdong and Macau, part of a large integration plan for the Greater Bay Area.
Payments & Settlements
MAS: Remittance Firms Forbidden from Making Loans
By Editors | 13/06/2019
Remittance firms will be prohibited from issuing advances to individuals starting September this year, ahead of the Payment Services Act entering into force.
Trading & Investment
Singapore Bourse Pushes into Foreign Exchange Market
By Manesh Samtani | 12/06/2019
SGX wants to reduce its reliance on equity index derivatives by aggressively pushing into the FX markets over the next five years.
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