Payments & Settlements

Cambodia Announces Soft Launch of New Payment System

24/10/2019

Launched in partnership with 7 financial institutions, the new system will enable real-time interbank transfers, mobile payments, and QR code payments.

Trading & Investment

Myanmar to Open Stock Market to Foreign Nationals in Phases

24/10/2019

The SECM has decided to open the stock market only to foreign nationals living in Myanmar for the time being, but a new board planned for Q3 2020 will reportedly allow foreigners to trade freely.

Conduct, Culture & Accountability

ACCC Mortgage Pricing Inquiry to Extend Beyond Mortgage Pricing

24/10/2019

ACCC chairman Rod Sims reportedly told a parliamentary hearing that bundling products such as credit cards and insurance would form part of the agency’s inquiry.

Payments & Settlements

Philippines to Adopt QR Codes for Payments Nationally

24/10/2019

Once the national QR code standard is established, bank and non-bank payment providers will have 30 days for adoption. Those already offering QR-enabled payments will have until mid-2020.

Structural Regulation

CBIRC Tightens Oversight on Structured Deposits Sold by Banks

24/10/2019

Banks can only offer structured deposit products if they have derivatives trading licences, and they must ensure the sales process is done in a “legally compliant manner”.

Anti-Money Laundering

Three Indonesians Charged with Terrorism Financing in Singapore

24/10/2019

The three individuals are said to have provided a total of about S$1,500 to individuals in Indonesia for the purpose of facilitating terrorist acts after being ‘radicalised’ last year.

Conduct, Culture & Accountability

UBS Identifies ‘Inappropriate Spreads’ Charged to HK, SG Clients

24/10/2019

UBS may have charged some wealth management clients booked in Hong Kong and Singapore ‘inappropriate spreads’ on debt securities transactions between 2008 and 2015.

Tokenisation

Thailand SEC Approves First ICO Portal

23/10/2019

Under Thailand’s regulatory framework, ‘ICO portals’ help screen ICOs, conduct due diligence, prove smart contract source codes and verify KYC processes before they are released to the market.

Trading & Investment

SEBI Allows Stock Exchange Listings of Commercial Paper

23/10/2019

SEBI says issuers have shown an interest in listing their commercial paper on stock exchanges to capture broader investor participation.