Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Fintech / Regtech
Taiwan FSC Issues New Guidelines for P2P Lending Platforms
20/10/2023
P2P platform operators have to implement six risk control mechanisms, including a real-name account system and arrangements for segregating customer funds.
Capital / Liquidity
RBNZ to Amend ESAS Access Policy, Eligibility Criteria
20/10/2023
RBNZ consultation revealed “considerable demand” for access to ESAS by non-banks for payments and settlements, access to HQLA, and interest income.
Major China Developer Country Garden Effectively in Default
20/10/2023
Country Garden was due to make a USD 15.4 million coupon repayment this week, but failed to do so, according to reports.
Fintech / Regtech
China Unveils Global AI Governance Initiative at Belt and Road Forum
20/10/2023
The initiative emphasises equal rights for all countries and regions in the development and governance of AI technologies.
AML / KYC
FATF to Scrutinise India’s Use of NGO Laws Amid Allegations of Misuse
20/10/2023
FATF officials are expected to visit India in November to identify whether India is using its laws to suppress NPOs and civil society groups.
Enforcement
MAS Bans Former AXA and Aviva Financial Advisers
20/10/2023
The former advisers were banned for allowing unlicensed individuals to perform financial advisory services on their behalf.
Enforcement
MAS Instructs DBS, Citi to Investigate Delayed Recovery from Outage
19/10/2023
The banks took longer than the required four hours to recover from last Saturday’s outage. MAS said it will take appropriate supervisory actions after gathering the necessary facts.
AML / KYC
FinCEN to Require FIs to Report Transactions Involving Crypto Mixers
19/10/2023
FIs would have to report information about transactions they know or suspect could involve crypto mixing, whether in the US or in another jurisdiction.
AML / KYC
Singapore Prosecutors Establish Technology and Crypto Crime Task Forces
19/10/2023
Singapore’s Attorney General’s Chambers has established a Technology Crime Task Force and Virtual Currency Task Force.
Fintech / Regtech
MAS to Cooperate with Saudi Central Bank on Fintech
19/10/2023
MAS and SAMA will enable cooperation between their innovation departments and share information regarding fintech.
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