Payments & Settlements

Italian Banks Adopt Blockchain to Reconcile Interbank Transactions

31/07/2020

55 banks are using a blockchain platform to share interbank transfer data and reconcile transactions, an initiative made possible by a rule change last May.

Anti-Money Laundering

Pakistan Senate Passes Amendments to Anti-Terrorism, UNSC Laws

31/07/2020

The amendments raise the maximum penalties for violating anti-terrorism laws, and empower the government to implement UN Security Council resolutions.

Trading & Investment

Bursa Malaysia to Introduce New Derivatives Products

31/07/2020

The derivatives products to be launched this year include new single stock futures, a revamped index futures contract, and ETFs linked to sectoral indices.

Credit Risk

China: NAFMII Proposes Rules for Trading Credit Default Swaps

31/07/2020

Credit default swaps and credit-linked notes will provide investors additional tools to hedge against bond defaults and other credit events.

Sustainable Finance

China Launches National Green Development Fund

31/07/2020

The National Green Development Fund will be used to invest in key areas of green development along the Yangtze River Economic Belt.

Fraud, Scams & Cybercrime

S. Korean Regulators Apologise for Private Fund Losses

30/07/2020

The FSC has meanwhile released new administrative guidance on private funds, aimed at strengthening supervision of the sector.

Conduct, Culture & Accountability

ASIC Tightens Timeframe for Complaints Handling in Financial Sector

30/07/2020

Superannuation trustees have 45 days to respond to a complaint, compared to 90 days previously. Other financial services and credit providers have 30 days.

Structural Regulation

Reserve Bank of New Zealand Bill Introduced in Parliament

30/07/2020

The Bill focuses on reforming RBNZ’s overall institutional, governance, accountability, and funding arrangements, effectively updating 30-year-old legislation.

Payments & Settlements

WeLab Bank Announces Public Launch of Virtual Banking Services

30/07/2020

WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.