Asia & South America

September 16, 2019

South Korea: FSC introduces Guidelines on Financial Companies’ Investment in Fintech Business

The Financial Services Commission (FSC) has introduced Guidelines on Financial Companies’ Investment in Fintech Business.   According to the FSC, the guidelines expand the scope of fintech business opportunities in which financial companies are allowed to invest.     Currently, an ancillary business that a financial company is allowed to operate
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September 12, 2019

Kuwait: CBK amends corporate governance rules applicable to Kuwaiti banks

The Central Bank of Kuwait has amended corporate governance rules and regulations which apply to Kuwaiti banks.   The amendments, as approved, require adding independent directors to the composition of banks’ boards of directors and the board committees.
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Derivative - Unique Product Identifier
July 21, 2019

Banking: Recent Regulatory Developments

…a review of recent regulatory developments across the globe.   REGULATORY CHANGES   i) Canada: Advisory Committee on Open Banking   The Government of Canada launched Advisory Committee on Open Banking (Committee). The Committee, according to the Government, is the first step in a review of potential merits of open
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July 21, 2019

Financial Institutions Regulation: Major Developments This Week

…regulatory developments across the globe this week that may be of interest.   REGULATORY CHANGES   1. Switzerland: Pillar 3 Disclosure Requirements – Regulatory Treatment of Accounting Provisions   The Basel Committee on Banking Supervision released a technical amendment on additional Pillar 3 disclosure requirements for jurisdictions implementing an expected
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July 21, 2019

Banks and Financial Institutions Regulation

This review captures recent regulatory developments in the banking space.   1. CANADA:   i) Department of Finance: Regulations Amending Certain Regulations made under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2018   The Department of Finance published draft amendments to regulations under the Proceeds of Crime
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