Data Privacy

FSC Korea Expands Open Banking Access, Grants ‘MyData’ Licences

22/12/2020

“With more types of financial institutions joining the open banking system, it will help promote competition and improve consumer convenience,” the FSC said.

KYC & CDD

RBI Announces Extension of KYC Registry to Legal Entities

22/12/2020

The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.

Structural Regulation

Malaysia: BNM Tasks Committee With Benchmark Reform Objectives

22/12/2020

The Financial Markets Committee will be tasked with overseeing the development of an alternative reference rate for Malaysia and deciding on whether to retain KLIBOR.

Capital Adequacy

Korea FSS Considers Imposing Limits on Bank Dividends

22/12/2020

While banks performed better than expected this year, the FSS is concerned about new Covid-19 cases being detected in Korea and resulting economic uncertainty.

Structural Regulation

Hang Seng Index Operator Seeks ‘More Balanced Representation’

22/12/2020

Hang Seng Indexes Company proposes to increase the number of constituent stocks in the HSI, lower the weight cap, and remove the minimum listing history requirement.

Structural Regulation

CSRC Grants Deutsche Bank Fund Custody Licence in China

22/12/2020

Deutsche Bank has become the second foreign bank to be granted a domestic fund custody licence in China, just months after rules were finalised for granting such approvals.

Cryptocurrency

UPDATED: US SEC Files Lawsuit Against Ripple, Top Execs

22/12/2020

The lawsuit will allege that Ripple, its CEO and its Co-founder sold unlicensed securities that should be registered with the SEC.

Payments & Settlements

Fusion Bank Launches Virtual Banking Services in Hong Kong

22/12/2020

The Tencent-backed virtual bank allows customers to bind their bank accounts to WeChat Pay HK for use in making payments in Hong Kong, China and Macau.

Reporting & Disclosures

FSB Urges Standard Setters to Use TCFD Recommendations

22/12/2020

Using the TCFD recommendations as the basis for developing requirements or guidance for climate-related disclosures will help avoid the risk of market fragmentation, the FSB says.