LATEST NEWS

Market Infrastructure

RBNZ, FMA Seeks Feedback on Draft FMI Standards

By Sanday Chongo Kabange | 25/09/2022

The FMI Standards are likely to be issued in early 2023 and take effect around 1 August 2023 – once FMI designations are complete.

Securities / Derivatives

LME Faces More Lawsuits Over Cancelled Nickel Trades

By Editors | 25/09/2022

AQR Capital Management, DRW Commodities, Flow Traders, Capstone Investment Advisors and Winton Capital Management filed legal action against the LME.

Taiwan Approves Merger Between Financial Holding Companies

By Editors | 25/09/2022

The merger between Fubon Financial and Jih Sun Financial will be the first merger of financial holdings companies in Taiwan.

Crypto / Digital Assets

India to Finalise Stance on Crypto in Early 2023 – Reports

By Editors | 25/09/2022

The government plans to finalise its stance by February-March 2023, ahead of a May deadline to respond to the FATF.

Crypto / Digital Assets

Indonesia to Tighten Rules for Crypto Exchanges – Report

By Editors | 25/09/2022

Crypto exchanges will have to post Indonesian citizens resident in the country to at least two-thirds of their board seats.

Enforcement

Australian Court Fines AMP for ‘Fees for No Service’ Conduct

By Editors | 25/09/2022

The Federal Court said the conduct reflected “very poorly on the organisation culture” of AMP, fining its subsidiaries a total A$14.6mn.

AML / KYC

AMLC Philippines Issues Draft Rules for Anti-Human Trafficking Law

By Editors | 25/09/2022

Financial intermediaries will be required to monitor for and report financial activity and transactions suspected to be related to human trafficking.

Fintech / Regtech

ADB Paper Offers Guidance on Building Regtech, Suptech Ecosystems

By Sanday Chongo Kabange | 25/09/2022

Central to success is a high level of commitment to a “digital first” strategy, both from the regulatory community and the wider industry.

RBI Issues New Standards for Compliance Function of UCBs

By Editors | 25/09/2022

Tier 4 UCBs and tier 3 urban cooperative banks are directed to appoint a chief compliance officer by 1 April 2023 and 1 October 2023, respectively.