India

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    Anti-Money Laundering

    NYDFS Fines Nordea Bank $35mn for AML Failures

    By Editors | 29/08/2024

    NYDFS said Nordea’s deficient AML programme exposed it to a “high risk of criminal abuse” which was “imported” to New York’s financial system.

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    Payments & Settlements

    SEBI Proposes to Mandate UPI Blocking Mechanism for Stock Trades

    By Ajoy K Das | 29/08/2024

    Under the UPI block mechanism, investors only transfer funds to the broker after their shares are credited.

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    AI Risk & Governance

    RBI Developing New Unified Platform to Facilitate Lending

    By Ajoy K Das | 28/08/2024

    The so-called “Unified Lending Interface” will provide lenders digital access to customer data from land records and other sources.

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    Market Abuse

    SEBI Bans Anil Ambani from Securities Market for Five Years

    By Ajoy K Das | 27/08/2024

    Billionaire industrialist Anil Ambani and others allegedly orchestrated a scheme to divert funds from Reliance Home Finance through loans to connected entities.

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    Structural Regulation

    SEBI Proposes Revisions to Boost Appeal of Rights Issues

    By Ajoy K Das | 26/08/2024

    SEBI aims to make rights issues the preferred route for additional fundraising by listed companies, compared to QIPs and preferential allotments.

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    Structural Regulation

    SEBI Proposes to Allow Self-attestation of Certain Documents

    By Ajoy K Das | 25/08/2024

    SEBI proposes to stop requiring notarisation or certification for certain documents as this raises the cost and compliance burden for businesses and individuals.

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    Structural Regulation

    India’s IFSCA and Malaysia’s LFSA Sign Cooperation MOU

    By Ajoy K Das | 24/08/2024

    The MOU will facilitate information sharing to promote the development of both the GIFT City and Labuan international financial centres.

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    Fraud, Scams & Cybercrime

    Indian Telco Ordered to Pay Compensation for SIM Swap Fraud

    By Ajoy K Das | 23/08/2024

    Airtel issued a duplicate SIM card without verification, resulting in fraudulent withdrawals in May 2017, and then challenged a July 2018 compensation order and lost.

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    Cybersecurity

    SEBI Issues New Cybersecurity Framework for Regulated Entities

    By Ajoy K Das | 21/08/2024

    A cyber capability index (CCI) will be introduced as a benchmark for evaluating cybersecurity effectiveness and guiding necessary improvements.

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    Sustainable Finance

    SEBI to Expand Scope of Sustainable Finance Framework

    By Ajoy K Das | 21/08/2024

    A new category of financial instruments, ‘ESG Debt Securities’, will comprise green bonds, social bonds, sustainable bonds and SLBs.

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