The law covers 12 aspects, include a licensing system for virtual assets businesses, rules for their operations, and prohibitions on unfair trading practices.
Singapore police say the assets involved in the case now involve S$2.4bn, which is more than twice the amount initially reported in August.
The investment token is backed by three Bangkok luxury condominium projects. The ICO raised about THB 2.4 billion (USD 67 million).
The inaugural list of D-SIIs includes AIA Singapore; Income Insurance; Prudential Assurance; and Great Eastern Life.
Korea to Relax Rules to Boost Offshore Lending and Trade Finance
September 23, 2023Malaysia SC Outlines Ongoing Initiatives to Boost Capital Market
September 23, 2023Lawmaker to Propose Taiwan’s First Dedicated Virtual Assets Law
September 23, 2023Australia Court Fines NAB $1.3m for Overcharging Customers
September 23, 2023US Imposes Sanctions on Entities Linked to Iranian Drone Production
September 23, 2023ASIC Postpones Financial Adviser Registration to 2024
September 23, 2023CSRC Plans Reforms to Drive Better Dividend Payouts by Listed Companies
September 23, 2023RBI Revises Guidelines on Identification of ‘Wilful Defaulters’
September 22, 2023SFC Finalises Revisions to Takeovers and Share Buybacks Codes
September 22, 2023APRA to Enhance Standards on Superannuation Member Outcomes
September 22, 2023FEATURE: Exploring Sustainable Finance Dynamics Across APAC and Beyond
Ranamita Chakraborty, Regulation Asia September 21, 2023The Future Legal Tender: Chinese Views on CBDC
Stephen Deane, CFA Institute September 20, 2023INTERVIEW: Singapore’s Property Sector Under Scrutiny for Money Laundering Risks
Ranamita Chakraborty, Regulation Asia September 19, 2023Inside ASIC’s Derivatives Reporting Rule Rewrite
August 14, 2023 Manesh Samtani, Regulation Asia
Video: DTCC’s Chris Childs on APAC’s Derivatives Reporting Rule Rewrites
September 8, 2023 Editors, Regulation Asia
Philippines: Banks See Shift to XML-based Reporting as Beneficial, Despite Challenges
July 19, 2023 Manesh Samtani, Regulation Asia
The Regulation Asia Podcast
April 30, 2023 Editors, Regulation Asia
From a policy perspective, it is important not to approach market-based finance in the same way as banking, the WFE says.
Su Kiang Lau, Executive Director - Conduct, Financial Crime and Compliance at SC Ventures, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how banks are looking...
New report from IMF, World Bank, and OECD seeks to ensure diverging approaches to Paris Agreement alignment do not push climate goals further away.
The penalty was the maximum allowed by legislation that existed at the time of the contravening conduct. The court said a penalty "several times" higher would have been more appropriate.
Singapore police say the assets involved in the case now involve S$2.4bn, which is more than twice the amount initially reported in August.
JPEX breached the SFO and AMLO by publishing confidential correspondence with the SFC. Three more arrests have been made.
ASIC said the firm was ‘negligent’ in its failure to identify suspicious trading by a client and ‘reckless’ in continuing to allow further suspicious trading after ASIC raised concerns.
The FSS determined that around $223mn was embezzled by a bank employee, more than five times the amount initially reported.
ASIC says Bit Trade did not comply with its design and distribution obligations when offering a margin trading product to Australian customers.
The NZDPU proof of concept, supported by CDP, will provide an initial set of companies’ Scope 1, 2 and 3 emissions and reduction targets.
Interested firms will need to submit a market-ready solution for at least one of four themes by 20 October 2023.
The security feature enables banks to block access to their mobile apps and alert the customer if malware is detected on their device.
Citi clients can become participants of BondbloX Bond Exchange to trade both fractionalised and full-sized bonds.
Nine banks are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1.
Commencing this month, the review will entail a survey of licensed corporations as well as meetings and on-site inspections with selected firms.
Ashish is a banking professional with 23 years of techno-functional experience in Transformation, Digitization, Strategy, Data, Analytics, Business Process Re-engineering, Change and Risk Management across Wealth Management, Private Banking and Consumer Banking.
Bradley is Co-Founder at Regulation Asia, the leading regulatory news intelligence service for the financial sector in APAC. Bradley advises governmental and start-up projects, including several regulated digital assets, climate markets and payments entities.
Previously Bradley oversaw Strategy with SunGard Financial Systems (now FIS), heading up strategic, business planning and product development across Asia, Africa, Latin America and the Middle East. Prior to this, he was a management consultant focused on private equity and alternative assets. He has also been involved in several high-profile research programmes, including assisting the US Treasury Department in accessing the Troubled Asset Relief Program (TARP) instituted following the 2008 global financial crisis.
Bradley is a senior Financial Regulation and Risk Management research fellow with The Guangzhou-Nottingham Advanced Institute of Finance and the Guangzhou University of Finance’s Institute of Financial Employment.
Focused on the broader economic impact of financial regulation, he holds Master’s degrees in Finance, Quantitative Research and Law from New York University’s Stern School of Business, the Hong Kong University of Science and Technology, and the University of Melbourne. He is currently a doctoral candidate at the Swiss Business School in Zurich.
Parsa Khoshdel is an accomplished management consulting professional with more than 11 years of experience in private banking and financial services consulting.
He has extensive experience in driving large scale regulatory business transformation programs in collaboration with leading global financial institutions.
Parsa holds a Masters degree in Financial Engineering from National University of Singapore and is currently leading the PBWM Regulatory Compliance and Risk Management division for Synpulse in APAC.
Jane is a highly motivated and accomplished professional with over a decade of experience in the financial services sector. Beginning her career as a practicing lawyer in Malaysia, she later transitioned to the financial services industry where she assumed responsibility for overseeing regulatory compliance and risk management.
Prior to her current role at Charles Monat Associates, Jane served as the Head of Compliance at both AAM Advisory and St. James’s Place Singapore, where she established robust policies and standards that were successfully integrated throughout the organisations.
Throughout her career, Jane has worked closely with advisors and business stakeholders to ensure that clients can easily conduct business with the firm while maintaining compliance with all regulatory requirements.
Osvaldo is a Suitability & Wealth Management SME for NICE Actimize. Prior to joining NICE, he was a Financial Consultant with Fidelity Investments, where he helped retail and HNWI clients define their financial goals and provided them with financial planning concepts and solutions to meet those goals.
Before Fidelity, Osvaldo served around ten years at TIAA, working on the institutional side of the business for four years and the Wealth Management space for around six years. During his tenure at TIAA, he was a part of projects and pilots catering specifically to DOL and Suitability changes, including regulatory requirements and user interface.
Before joining TIAA, he was a Financial Advisor with Wells Fargo Advisors for two years, responsible for the Wealth Management offering out of 5 offices. Osvaldo began his career as a Financial Advisor at Bank of America / Merrill Lynch for around seven years, where he was responsible for running a Wealth Management practice across six offices.
Osvaldo has a bachelor’s degree in Finance from New Jersey City University. He also holds a Series 7, 63, 65, and Life & Health Producers licenses from the state of New Jersey.
Mr Ken Nagatsuka is the Executive Director and Head of Payments Department at the Monetary Authority of Singapore (MAS). The department is responsible for the authorisation, ongoing supervision and policy-making in relation to payment systems and payment service providers, such as e-money issuers, remittance providers and digital payment token (more commonly known as cryptocurrency) service providers under the Payments Services Act.
Prior to this, Mr Nagatsuka has worked in the field of capital markets regulation for over 15 years, and was previously Head of the Capital Markets Policy Division responsible for policy formulation and reviewing legislation in relation to capital markets and market infrastructures. In his role, he represented MAS on various international committees under the FSB, CPMI and IOSCO, on subjects such as OTC derivatives reforms and financial market infrastructures. Prior to that, he also served in various roles in exchange and clearing house supervisory functions.
Mr Nagatsuka holds both a Bachelor of Business Management and Bachelor of Science in Economics from the Singapore Management University.
Ari Redbord is Head of Legal and Government Affairs at TRM Labs, a blockchain analytics company. Prior to joining TRM Labs, he served as a Senior Advisor to the Deputy Secretary and the Under Secretary for Terrorism and Financial Intelligence at the United States Department of Treasury. In this capacity, he worked with teams from the Financial Crimes Enforcement Network (FinCEN), Office of Foreign Assets Control (OFAC), and other Treasury and interagency components on issues related to sanctions, the Bank Secrecy Act, cryptocurrency, and anti-money laundering strategies.
Previously, Mr. Redbord served as a Senior Assistant United States Attorney for the District of Columbia, where he investigated and prosecuted cases related to cryptocurrency, terrorist financing, sanctions evasion, export control, child exploitation and human trafficking. He has received numerous awards from FinCEN, the FBI, and the United States Attorney’s Office, including the Attorney General’s Award for leading an interagency task force dedicated to prosecuting those who abuse and exploit children.