Cloud & Infrastructure

RBI Finalises Rules for Outsourcing of IT Services by Banks

12/04/2023

RBI approval is not required for IT outsourcing arrangements, but they should be subject to on-site or off-site monitoring and inspection by regulators.

Emerging Prudential Risks

BOJ Gets First New Governor After Ten Years

12/04/2023

Kazuo Ueda plans to maintain ultra-loose monetary policy but signalled an openness to tweaking the BOJ’s yield control policy.

Fraud, Scams & Cybercrime

Hong Kong Announces New Measures to Combat Phone Scams

12/04/2023

Implementation of an “SMS sender name” registration system will begin in the banking industry by the end of this year.

Market Abuse

Korean Authorities Investigate Kakao for Market Manipulation

11/04/2023

The FSS is investigating whether Kakao manipulated the stock price of K-pop agency SM Entertainment.

Structural Regulation

FSC Korea Tightens Regulations on Bank Closures

11/04/2023

The changes are intended to better protect consumers from sudden decisions by lenders to wind down operations, as seen in the case of Citibank Korea in late 2021.

Alternative Markets

SEBI Mandates Direct Plan, Trail Fee Model for AIFs

11/04/2023

SEBI said AIFs should ensure onboard investors who approach them through a SEBI-registered intermediary are onboarded via direct plan.

Alternative Markets

FSC Korea Unveils Policy Measures to Bolster Startup Ecosystem

11/04/2023

The measures aim to address the challenges startups and venture capital firms face amid a slump in investment sentiment.

Structural Regulation

First Mainboard Stocks List in China Under New IPO System

11/04/2023

At a listing ceremony on Monday, CSRC chairman Yi Huiman said the reforms mean regulators “no longer pass judgment” on a firm’s investability or value.

Anti-Money Laundering

FATF Holds First In-Person Joint Experts Meeting Since 2019

11/04/2023

The three day event covered themes including cyber-enabled fraud, terrorist financing through crowdfunding, and the risks and challenges associated with hawala.