Capital Adequacy

European Commission May Scrap Stricter Foreign Bank Rules

10/10/2022

Proposed requirements that would automatically require foreign banks to set up a subsidiary if they reach a certain size may […]

Structural Regulation

SEBI Cancels Rating Agency Licence for the First Time

10/10/2022

Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.

Data Privacy

US, EU Move to Adopt New Data Sharing Framework

10/10/2022

The legal basis for transatlantic data transfers has been uncertain since 2020, after the EU-US Privacy Shield was declared invalid under EU law.

Trading & Investment

BSE India Receives Approval to Set Up Social Stock Exchange

10/10/2022

The social stock exchange will allow direct listings from non-profit organisations and for-profit social enterprises.

Credit Risk

Philippines Set to Adopt Standardised Forms for Loan Applications

10/10/2022

Lenders will be required to use standard loan application forms, which will make credit more accessible to small businesses.

Cybersecurity

BNM Calls for Heightened Vigilance Over Payment Card Activity

10/10/2022

Payment gateway service provider iPay88 experienced a breach earlier this year affecting card data from online transactions.

Trading & Investment

HKIFA Calls for Review of MPF Investment Framework

10/10/2022

The HKIFA is calling for relaxations to allow MPF funds to invest in a wider range of asset classes, and to provide investment flexibility to those already in retirement.

Structural Regulation

FASB Extends LIBOR Accounting Relief for Two More Years

10/10/2022

The relief delays more onerous accounting treatment that borrowers with legacy LIBOR loans would face if the relief was not extended.

Fraud, Scams & Cybercrime

Binance Suffers Crypto Hack, But Contains Losses

10/10/2022

After managing to freeze the majority of the stolen assets, Binance said about $100mn in unrecovered funds remains, out of $570mn that was initially stolen.