Payments & Settlements

FSB Publishes Stage 1 Report on Enhancing Cross-Border Payments

09/04/2020

New technologies have the potential to facilitate fast, low cost, transparent and scalable payments, but should be accompanied by measures to address all relevant risks.

Supervision & Enforcement

CBIRC Penalises Anxin Trust $2mn for Misappropriating Assets

09/04/2020

The misappropriation involved the transfer of assets from trust products to company shareholders, and the illegal use of assets to make payments for other products, among other purposes.

Structural Regulation

IOSCO Redirects Work Programme to Focus on Covid-19 Impacts

09/04/2020

IOSCO resources will be redeployed to focus on matters directly impacted by Covid-19, including to examine market-based finance, investment funds and central clearing.

Structural Regulation

MAS Extends Assessment Period for Digital Bank Decisions

09/04/2020

Successful digital bank applicants will be informed in the second half of this year, instead of June 2020 as originally intended.

Conduct, Culture & Accountability

S. Korea: Covid-19 Loans Exempted From Misconduct Sanctions

09/04/2020

Financial services workers delivering emergency support funds to businesses in need will be exempt from misconduct sanctions.

Conduct, Culture & Accountability

UPDATED – ASIC Commences Legal Proceedings For False Advertising

09/04/2020

ASIC alleges that companies in the Mayfair 101 Group promoted debenture products to wholesale investors using phrasing that falsely implied they were comparable to bank term deposits.

Trading & Investment

RBI to Open Up Rupee Derivatives for Hedging from 1 June

09/04/2020

Authorised dealers and can allow users to trade rupee derivatives up to USD 10 million notional value outstanding without the need to establish the existence of underlying exposures.

AI Risk & Governance

Korea: FSS Enhances Supervision with Artificial Intelligence

09/04/2020

The FSS has been applying AI to monitor insurance telemarketing, loan collections and online advertising, as well as to analyse complaints and PE fund reports.

Structural Regulation

Indonesia Has Adopted Measures to Implement PFMI: CPMI-IOSCO

09/04/2020

Since the 2019 update, Indonesia and Saudi Arabia have finished adopting measures that will enable them to implement the PFMIs for all financial market infrastructure types.