Editors
Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Articles by Editors
HSBC Wins Taiwan Approval to Serve High-net-worth Clients
21/03/2024
HSBC is the first foreign bank subsidiary in Taiwan to receive the approval to offer wealth management services to high-net-worth clients.
AML / KYC
UK Gov, Banks Disagree on Suspended Accounts Scheme
21/03/2024
The scheme would allow banks to transfer funds that have been suspended due to criminal suspicions to the government to finance its efforts to crack down on financial crime.
Sanctions
OFAC Targets Procurement Networks Used for Iran Weapons Programmes
21/03/2024
The sanctions target 5 individuals and 10 companies they own or use to facilitate procurements for Iran’s nuclear and other military weapons programmes.
Sanctions
OFAC Issues New Russia Sanctions Over ‘Malign Influence Efforts’
20/03/2024
Two individuals and their companies were sanctioned for creating fake websites designed to impersonate government bodies and media outlets with intent to deceive.
Enforcement
S. Korea Sees First Securities Class Action Related to an IPO
20/03/2024
The class action is against semiconductor company FADU and its underwriters, NH Investment & Securities and Korea Investment & Securities.
BOT to Randomly Inspect Banks to Assess Debt Restructuring Efforts
20/03/2024
The inspections will be used to ensure lenders are offering reasonable and realistic debt solutions to customers, in line with guidelines issued at the start of the year.
Securities / Derivatives
Taiwan to Lower Shareholding Disclosure Threshold on 10 May
20/03/2024
The threshold that triggers requirements to disclose substantial shareholdings will be lowered from 10% to 5%. Reporting will also shift from paper-based to electronic.
Crypto / Digital Assets
ECB Establishes Seven New Digital Euro Rulebook Workstreams
20/03/2024
The workstreams are aimed at developing rulebook proposals covering UX standards, a certification and approval framework, risk management, and implementation specifications.
Hong Kong LegCo Passes New National Security Law
20/03/2024
Lawmakers say the law was necessary to protect Hong Kong’s status as an international hub. Critics express concern that it could be used to erode civil liberties.
Enforcement
CFTC Fines US Bank, Oppenheimer for Record Keeping Failures
20/03/2024
US Bank was fined $6mn and Oppenheimer $1mn. Last month, the SEC also announced fines against Oppenheimer and a US Bank affiliate in a related case.
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