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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Cloud & Infrastructure
India: GIFT City Regulator Wins Approval to Set Up Suptech Fund
By Editors | 24/11/2021
The IFSCA also received approval for a new headquarters building. GIFT City’s new gold bullion exchange is expected to launch in January.
Structural Regulation
China Steps Up Crackdown on Violations of Anti-monopoly Law
By Manesh Samtani | 24/11/2021
China Citic Bank and a Baidu unit are among the latest to be fined. The SAMR’s anti-monopoly bureau has been elevated to a separate state-level bureau.
Structural Regulation
South Korea Divests Key Stake in Woori Financial Group
By Sanday Chongo Kabange | 24/11/2021
State-operated KDIC will no longer be the largest shareholder of Woori Financial Group, 23 years after the group was created in a government bailout.
Structural Regulation
CSRC to Expand Sponsor Obligations on Due Diligence
By Editors | 24/11/2021
New draft guidelines seek to ensure better quality information disclosures for listed companies by expanding the scope of sponsors’ responsibilities.
Structural Regulation
Japan Unveils Decisions on Treatment of Legacy LIBOR Contracts
By Manesh Samtani | 23/11/2021
Synthetic JPY LIBOR may be used if the contracting parties agree to do so, as well as in “exceptional cases” where it is difficult to proceed with negotiations.
Structural Regulation
FSB Calls for Urgent Action Complete LIBOR Transition Steps
By Manesh Samtani | 23/11/2021
The FSB says transition should be “primarily to overnight RFRs” and that it is closely watching market developments regarding credit-sensitive rates.
Data Privacy
RBI Panel Suggests Increasing Regulation for Digital Lenders
By Sanday Chongo Kabange | 22/11/2021
The panel suggests the establishment of a self-regulatory organisation which would be charged with formulating a code of conduct for digital lenders.
Structural Regulation
BSP to Stop Accepting Applications for E-Money Issuer Licences
By Sanday Chongo Kabange | 22/11/2021
EMI licence applications received from non-bank institutions will be processed until 15 December on a first-come, first-served basis.
Payments & Settlements
Taiwan FSC Raises Balance Limit for Third-Party Payment Providers
By Darien Choong | 22/11/2021
Third-party payment providers need not apply for a business licence from the FSC if they do not hold more than TWD 2 billion in custody.
Payments & Settlements
Bank Indonesia Issues Implementation Regulations for BI-FAST
By Editors | 22/11/2021
Banks with IDR 6 trillion in core capital, and non-bank institutions with IDR 100 billion in paid-up capital, can be direct participants of BI-FAST.
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