Conduct, Culture & Accountability

New Zealand Financial Services Bill Puts Client Interests First

10/04/2019

New Zealand has passed new legislation enabling a new framework for regulating financial advice. The new regime will come into effect in the first half of 2020.

Market Abuse

S. Korea Fines Another Goldman Affiliate for Naked Short Selling

10/04/2019

Goldman Sachs India Investment, along with three other offenders, has been fined for naked shorting by South Korean authorities

Payments & Settlements

Payments Connectivity Sees Continued Progress in ASEAN

10/04/2019

Bank of Thailand outlined a number of key initiatives with other ASEAN nations to increase regional connectivity in cross-border payments.

Clearing & Post-Trade

DTCC Partners with Droit to Automate Pre-Reporting Decision-Making

10/04/2019

DTCC’s pre-reporting solution can now determine – in real-time – the global cross-regulatory reporting implications and obligations for a particular transaction.

Payments & Settlements

RBI to Unify Complaints Handling for Digital Payments

10/04/2019

The RBI plans to speed up customer complaint processing and redressal times across all domestic payment platforms by end-June.

Conduct, Culture & Accountability

Australia Passes Law Forcing Financial Firms to Cooperate with AFCA

10/04/2019

A new law has made it mandatory for all financial firms to fully cooperate with AFCA to resolve consumer and small business disputes.

Payments & Settlements

Australia Consults on Payments System Migration to ISO 20022

10/04/2019

The RBA and Australian Payments Council have issued a consultation to help the industry agree on key strategic decisions for migrating the payment system to ISO 20022 by end-2024.

Structural Regulation

FCA, ASIC Ensure Post-Brexit Continuity, Cooperation

08/04/2019

The FCA and ASIC have signed MoUs on trade repositories and alternative investment funds, and adopted existing equivalence decisions on their supervisory and regulatory regimes.

Conduct, Culture & Accountability

Korea FSS to Facilitate ‘Responsible’ Innovation by Foreign Firms

08/04/2019

FSS governor Yoon Suk Heun urged foreign financial firms to bring in “a new wave” of financial inclusion and responsible innovation to spur sustainable growth in Korea’s financial industry.