Payments & Settlements

Korea to Pilot Open Banking Platform From 30 Oct

16/10/2019

Banks and fintechs will pilot test the ability of customers to manage multiple bank accounts and withdraw and transfer money from within a single app.

Data Privacy

PBOC Privately Solicits Bank Feedback on Customer Data Protection

16/10/2019

Draft measures on personal financial data protection have reportedly been issued to some banks as part of the PBOC’s consultation process.

Capital Adequacy

Philippines: BSP Approves Amended D-SIBs Framework

16/10/2019

A bank’s size and interconnectedness will be given greater importance in the assessment to determine its systemic importance in the Philippines.

Structural Regulation

SGX RegCo Raises Bar for Property, Business Valuations

16/10/2019

SGX RegCo is enhancing its cooperation with professional bodies to improve the valuation of property, land and businesses held by listed companies.

Conduct, Culture & Accountability

FMSB Issues Final Guidance on Conflicts of Interest

16/10/2019

The FICC Markets Standards Board offers guidance to help market participants effectively deal with conflicts of interest that arise within their firms.

Structural Regulation

FSC Korea Receives Applications for Internet-only Bank Licences

16/10/2019

The FSC said it plans to make a decision on initial approvals in December, after three consortia submitted bids in the second round of applications for internet-only bank licences.

Conduct, Culture & Accountability

Australia to Form New Disciplinary Body for Financial Advisers

15/10/2019

The plan undoes months of effort by industry associations to form an independent body to monitor and enforce compliance with a new code of ethics for financial advisors.

Capital Adequacy

HKMA Cuts CCyB in Response to Worsening Economic Conditions

15/10/2019

The first CCyB cut since 2015, the move is expected to free up between HKD 200-300 billion in the financial system and make it easier for banks to lend to SMEs.

Structural Regulation

ACCC to Probe Banks on Mortgage Pricing Decision-making

15/10/2019

The ACCC is commencing an inquiry to find out why banks are not fully passing on interest rate cuts to borrowers, and what prevents customers from switching to cheaper lenders.