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AML / KYC
RBI Issues New Guidelines on Digital Lending
By Sanday Chongo Kabange | 06/09/2022
The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.
Market Infrastructure
Liz Truss Implications for the UK Financial Sector
By Manesh Samtani | 06/09/2022
Planned tax cuts will benefit banks. The FCA, PRA and PSR may be merged. China may be declared a threat to national security.
Capital / Liquidity
Philippines to Assess Financial Conglomerate Risks in October
By Editors | 06/09/2022
The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
Securities / Derivatives
SFC Suspends Rifa Futures Exec Over ‘Xinguanjia’ Trading Software
By Editors | 06/09/2022
In July, Rifa Futures became the fourth firm to be fined over the use of Xinguanjia. The firm’s managing director has now been suspended for 8 months.
Securities / Derivatives
ASIC Extends Ban on Binary Options Until 2031
By Editors | 06/09/2022
Since it came into effect, the ban has been “fully effective” in preventing retail clients from losing money trading binary options in Australia, ASIC said.
AML / KYC
BSP Rolls Out New Cyber Risk Management Software at FIs
By Editors | 06/09/2022
The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.
Securities / Derivatives
Japan FSA Consults on Documentary Requirements for Foreign Entry
By Editors | 06/09/2022
The amendment will allow applicants who meet certain conditions to submit written applications for registration and other subsequent documents in English.
Market Infrastructure
CSRC to Accelerate Work on Overseas Listing Framework
By Darien Choong | 05/09/2022
The CSRC will push forward legislation to enact new overseas listing rules, and support the establishment of a new registration system for Chinese firms seeking foreign IPOs.
AML / KYC
Gold Producer Becomes Second Russian Firm to Issue CNY Bonds
By Editors | 05/09/2022
Russia is now in third place on a list of non-mainland jurisdictions using the yuan for global payments, after Hong Kong and the UK.
Crypto / Digital Assets
Korea’s Busan City Forms Partnerships with FTX, Binance
By Editors | 05/09/2022
FTX will assist in the establishment of the Busan Digital Asset Exchange. Both FTX and Binance will support the development of Busan’s local blockchain industry.
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