Conduct, Culture & Accountability

Australia Issues Draft Bill on Financial Advice Reforms

21/04/2021

The bill will expand the role of ASIC’s Financial Services and Credit Panel so that it operates as the single disciplinary body for financial advisers.

Data Privacy

Taiwan Launches ‘MyData’ Platform With 15 Banks

20/04/2021

The platform allows consumers to use personal data stored by government agencies to facilitate their access to financial services.

Trading & Investment

ISDA to Consolidate Interest Rate Derivatives Definitional Book

20/04/2021

The new 2021 ISDA Interest Rate Derivatives Definitions will be published on 17 May, with target implementation scheduled for October.

Market Risk

Bangladesh Bank Issues Guidelines on ‘Experimental’ IRRBB Adoption

19/04/2021

To facilitate the full implementation by 30 June 2024, banks are asked to arrange for the experimental adoption of the guidelines by 30 June 2021.

Fraud, Scams & Cybercrime

Former AIA Agent Convicted For Fraud Over Signing Fee

19/04/2021

The former representative submitted false income proof statements to deceive AIA into offering him a higher signing fee.

Emerging Prudential Risks

CBIRC Calms Market Fears Over Huarong Restructuring

19/04/2021

The CBIRC says Huarong is actively cooperating with its auditor and will complete its annual report as soon as possible.

Emerging Prudential Risks

BCBS Outlines Work Priorities for 2021-2022

19/04/2021

Priorities include ongoing Covid-19, digitalisation, climate risk, AI/machine learning, data and technology governance and operational resilience.

Reporting & Disclosures

HK Bourse Proposes New Governance, ESG Reporting Standards

19/04/2021

The proposals enhance corporate governance standards in the areas of corporate culture, director independence, diversity, and ESG disclosures and standards.

Structural Regulation

Citigroup to Exit 13 Markets, Including 10 in Asia

19/04/2021

The move is part of an ongoing strategic review to allow Citi to direct resources to the businesses where it has the greatest scale and growth potential.