Latest News
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Australia & NZ
Australia Payments System Board signs MoU with Payments Council
Editors, Regulation Asia September 1, 2015The Memorandum of Understanding sets out a framework for engagement between the two bodies and will enhance industry coordination in dealing with cooperative issues that arise in the payments system.
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India
India Grants Payments Banks Licenses to Corporates
Editors, Regulation Asia September 1, 2015The Reserve Bank of India has approved eleven non-financial corporations to become payments banks, a new classification of financial institution that can offer basic banking and payment services.
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China
China Eases Property Investment Rules for Foreigners
Editors, Regulation Asia August 31, 2015China has relaxed its property investment rules for foreigners, allowing them to buy as many properties as they wish and loosening restrictions on loans and settlement in foreign currencies.
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Australia & NZ
No Desire for City-Specific Lending Controls, says APRA
Editors, Regulation Asia August 31, 2015The Australian Prudential Regulation Authority is down-playing its desire for city-specific lending restrictions to cool Sydney and Melbourne property prices.
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Securities & Trading
Yangon Stock Exchange to Open in Early December
Editors, Regulation Asia August 31, 2015The Yangon Stock Exchange, Myanmar’s first modern bourse, will begin accepting listing applications in September and open in early December.
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Australia & NZ
Industry Funding Model Proposed for Australian Regulator
Editors, Regulation Asia August 28, 2015ASIC releases consultation paper proposing an industry funding model where regulatory costs will be recovered directly from banks, listed companies and the financial services sector.
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Australia & NZ
New Zealand to Update Outsourcing Policy for Banks
Editors, Regulation Asia August 28, 2015The Reserve Bank of New Zealand has released a consultation paper with proposals to update its outsourcing policy for banks.
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India
RBI Calls for Regulation of “Disruptive” Financial Innovation
Editors, Regulation Asia August 28, 2015RBI Deputy Governor SS Mundra is calling for tighter regulatory frameworks around peer-to-peer (P2P) lending, internet-only banks, crowd funding platforms and cryptocurrency.
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China
China Probes Major Brokerages for Client Rules Violations
Editors, Regulation Asia August 28, 2015The China Securities Regulatory Commission has launched an investigation into some of China's largest brokerages for suspected rule violations.
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India
India Brings in FATCA, Scraps MAT
Samuel Riding, Regulation Asia August 28, 2015Domestic tax rules changed to account for US legislation; minimum alternate tax exemption backdated to 2001.
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