Payments & Settlements

Amex Closer to Entering China Bank Card Market – Report

13/01/2020

The latest approval comes over two years after Amex was approved to start preparing a joint venture business with local partner LianLian.

Structural Regulation

HKEX Asks Participants to Prepare Systems for Investor Compensation Levy

13/01/2020

While the collection of the investor compensation levy is currently suspended, exchange participants should take necessary actions to prepare for its calculation and payment.

Supervision & Enforcement

AUSTRAC, UK Gambling Commission Sign Anti-Financial Crime MOU

13/01/2020

The signing of the MOU brings the number of jurisdictions AUSTRAC shares regulatory intelligence with to five, on top of 93 MOUs it has with financial intelligence units.

Data Privacy

S. Korea Passes Bills Enabling Commercialisation of Data

13/01/2020

The bills allow the commercial use of unidentified individuals without seeking their consent. A new data exchange will be launched in March.

Supervision & Enforcement

CSRC Issues Warning Letter to GF Securities for Poor Compliance

13/01/2020

An investigation into the firm found fewer-than-required experienced compliance officers, and a lack of independence of its compliance function from other departments.

CBDCs

Demand for Stablecoin, CBDC Not Yet Established: RBA

13/01/2020

A retail CBDC could ultimately hurt commercial banks, as it would translate to a fall in deposits and a reduction in the availability of funds for lending to households and businesses, the RBA says.

Structural Regulation

SGX Enhances Listing Due Diligence Standards for Issue Managers

13/01/2020

The ABS listings due diligence guidelines and independence requirements have been incorporated into SGX’s mainboard listing rules.

Resolution & Recovery

Sri Lanka to Enact New Banking Act in 2021

10/01/2020

The new Banking Act will streamline the licensing process, branch approvals, and adopt a proportionality framework for banking regulations, among other changes.

Capital Adequacy

12 Banks Fail to Meet Bangladesh Capital Requirement

10/01/2020

The total capital shortfall among the 12 banks was reported to be over $2bn as of the end of September, amid rising bad loans in the banking sector.