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Fintech / Regtech
India Raids Payment Firms in Digital Lending App Probe
By Editors | 06/09/2022
The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.
ESG / Sustainability
Hong Kong Plans Measures to Lure ESG, Fintech Talent
By Editors | 06/09/2022
The government will also dedicate resources towards providing training aimed at developing local ESG talent. Applications for a fintech subsidy scheme will open on 10 September.
Enforcement
Singapore Jails Five Former Remisiers for False Trading
By Editors | 06/09/2022
The five were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.
Capital / Liquidity
BSP Raises Minimum Capital Requirement for Rural Banks
By Sanday Chongo Kabange | 06/09/2022
The PHP 10 million minimum capital requirement was raised to PHP 50 million, which is less than was proposed in May.
AML / KYC
China: Liaoning Officials Probed Following Two Bank Failures
By Editors | 06/09/2022
Among them, two CBIRC officials are accused of failing in their supervisory duties and for accepting bribes in exchange for favours.
Enforcement
Singapore: StanChart RM Charged for Unauthorised Access to Customer Data
By Editors | 06/09/2022
The relationship manager used the computers of other bank staff to access the personal information and transactional history of another StanChart employee.
Australia: Financial Adviser Associations Consider Merging
By Editors | 06/09/2022
The merger would create a single association that would speak for the financial advice profession in a “unified voice” and add clarity and power to the positions it takes.
AML / KYC
US Fed Ends HSBC 2012 Deferred Prosecution Agreement
By Editors | 06/09/2022
HSBC welcomed the decision, saying its employees have worked hard over the last decade to transform the bank’s financial crime risk management capabilities.
Crypto / Digital Assets
Digital Dollar Project Launching Sandbox to Explore CBDC
By Editors | 06/09/2022
The programme is slated to begin in early October with a focus on cross-border payments. The initial participants will be Digital Asset, EMTECH, Knox Networks, and Ripple.
Capital / Liquidity
Phase 6 of Initial Margin Rules Take Effect
By Editors | 06/09/2022
The final phase of UMR implementation brought into scope approximately 800 firms, including many more buy-side firms than in previous phases.
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