Conduct, Culture & Accountability

RBNZ Launches Streamlined External Whistleblowing Policy

11/02/2020

“Whistleblowing is a critical avenue for those wanting to shine a light on wrongdoing within regulated entities,” said RBNZ head of supervision Andy Wood.

Structural Regulation

Quarterly Reporting Required for 109 Companies: SGX

11/02/2020

94 companies required to use quarterly reporting are issuers with audit concerns, 6 have outstanding regulatory concerns, and 9 are named under both categories.

Emerging Prudential Risks

PBOC Offers Banks Low-Cost Funding to Support Epidemic Control

11/02/2020

Banks are required to use the special funding to support activities by companies directly linked to controlling the outbreak through loans issued at below-market interest rates.

Conduct, Culture & Accountability

Australia Passes Bills to Enhance Consumer Protections, Strengthen ASIC

10/02/2020

The bills introduce a best-interests duty for mortgage brokers, ban unfair contract terms in insurance, and enable ASIC to more effectively enforce existing laws.

Credit Risk

S. Korean Government Pledges $1.6b to Support New SME Loans

10/02/2020

Funding will be provided through policy banks to help SMEs, small merchants, and self-employed business owners address financing challenges amid the coronavirus outbreak.

Payments & Settlements

DBS Completes First Fully Digital Trade Financing Settlement on NTP

10/02/2020

DBS was able to cut the trade financing processing time from about a week to under one working day, yielding greater operational efficiencies for trade partners.

Trading & Investment

S. Korea’s KakaoPay Green-lit to Offer Brokerage Services

10/02/2020

The FSC has granted final approval to KakaoPay allowing it to acquire Baro Investment & Securities and enter the brokerage services space.

Liquidity Risk

HSBC Provides Relief to Customers Impacted by Outbreak

10/02/2020

HSBC becomes the latest Hong Kong bank to announce relief measures for business owners impacted by the novel coronavirus and its effects on the economy.

Anti-Money Laundering

US Treasury Issues 2020 National Strategy for Combatting Illicit Finance

10/02/2020

The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.