Other Asia Pacific

Bangladesh Bank Orders Banks to Cap Credit Card Interest

By Editors | 26/09/2020

Banks are charging customers between 25 and 27 percent in interest on credit card debt, in violation of regulations, Bangladesh Bank said.

Thailand: BOT to Revamp Banks’ Reporting Requirements

By Editors | 26/09/2020

The reforms will reduce data processing steps for financial institutions and the costs associated with reporting, while increasing reporting efficiency.

Securities / Derivatives

BSP Approves Sale of Unit Investment Trust Funds via Third Parties

By Editors | 26/09/2020

New rule amendments allow trust corporations to offer their investment products through third-party distributors, including individual and institutional agents.

Securities / Derivatives

Philippine Bourse Proposes to Ease Listing Rules

By Sanday Chongo Kabange | 26/09/2020

The minimum cap requirement for the Main Board is being removed in favour of a net income requirement. The criteria for the SME Board are also being relaxed.

Fintech / Regtech

Korea, Thailand Sign MoU on Financial Services Regulation

By Sanday Chongo Kabange | 25/09/2020

The agreement will help enhance supervisory efficiency and promote innovation through experience sharing, technical assistance and exchange of information.

Securities / Derivatives

Sri Lanka SEC to Procure New Surveillance System

By Duruthu E Chandrasekera | 24/09/2020

The SEC is planning to hire a consultant to assess its existing surveillance system and make recommendations on procuring a new system.

AML / KYC

FinCEN Files: Philippine Money Remitters Named in SARs

By Manesh Samtani | 23/09/2020

Philrem and Werquick used local banks to wire funds for unidentified customers without identifying source of funds, the true beneficiary, or the purpose of the transactions.

BSP Orders Mandatory 60-Day Moratorium on All Loans

By Sanday Chongo Kabange | 23/09/2020

Lenders are asked to implement a mandatory one-time 60-day grace period for all loans falling due on or before 31 December 2020.

Securities / Derivatives

Thailand to Lift Short-selling Restrictions Next Week

By Editors | 23/09/2020

As market volatility has returned to normal levels, SET and TFEX will return to its normal short selling rules and its normal ceiling and floor limits.