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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Structural Regulation
Korean Tech Giants Told to Comply with Consumer Protection Law
By Sanday Chongo Kabange | 15/09/2021
The FSC and FSS have ordered Kakao and Naver to alter or halt the sale of financial products online and register as brokerages by 24 September.
Structural Regulation
Australia Appoints Inaugural Members to FRAA
By Editors | 15/09/2021
Nicholas Moore, ex-CEO of Macquarie Group, has been appointed as Chair of the Financial Regulator Assessment Authority, which will oversee ASIC and APRA.
Payments & Settlements
RBI Opens Applications for Third Sandbox Cohort
By Editors | 15/09/2021
Six entities from the first cohort on retail payments have exited the sandbox. The second cohort on cross-border payments is commencing testing this month.
Trading & Investment
APLMA, TMA Issue Guidance on SOFR Adoption in Loan Markets
By Manesh Samtani | 15/09/2021
The HKMA said it supports the publication of the new information note, which sets out options to replace USD LIBOR with SOFR in loan contracts.
Payments & Settlements
Singapore, India to Enable Real-time Cross-border Payments
By Sanday Chongo Kabange | 15/09/2021
The PayNow-UPI linkage will be implemented in July 2022, enabling faster and lower cost fund transfers between Singapore and India.
Structural Regulation
Malaysia, Thailand Invite Banks to Become ‘Qualified ASEAN Banks’
By Manesh Samtani | 15/09/2021
The initiative is part of the April 2019 bilateral arrangement between BNM and BOT under the ASEAN Banking Integration Framework.
Trading & Investment
China Pilots New Scheme to Plug Retirement Savings Gap
By Sanday Chongo Kabange | 15/09/2021
Four domestic banks will test wealth management products for one year in Wuhan, Qingdao, Chengdu and Shenzhen.
Payments & Settlements
ACCC Authorises Amalgamation of BPAY, eftpos, NPPA
By Editors | 15/09/2021
The ACCC said the merger will enable the three payment schemes to coordinate investment proposals, avoid duplicative spending, and likely result in public benefit.
Structural Regulation
China to Develop Qianhai, Hengqin into GBA ‘Cooperative Zones’
By Editors | 14/09/2021
Qianhai in Shenzhen will be used to strengthen cooperation with Hong Kong while Hengqin in Zhuhai will serve to strengthen cooperation with Macao.
Structural Regulation
Beijing Stock Exchange Issues Draft Listing Rules
By Editors | 14/09/2021
The draft rules cover issuance and listing rules, audit rules, and rules for refinancing and major asset reorganisations of listed companies.
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