Posts By Editors, Regulation Asia
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297Australia & NZAPRA Suspends Issuance of New Licenses
Given the challenges new entrants face even under normal economic conditions, APRA does not consider it prudent to license new entities for at least the next six months.
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311Hong KongHong Kong to Implement Paperless Securities Market from 2022
Submissions to a January 2019 consultation indicate strong support for the implementation of an uncertificated securities market in Hong Kong.
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145Asia-PacificBOT to Stabilise Corporate Bond Market, Ramp Up SME Support
Among the new measures announced are six-month loan payment holidays and new low-cost loans for SMEs, and the establishment of a corporate bond stabilisation fund.
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297AML / KYCMalaysia: BNM to Implement New Currency Law
BNM will continue to consult on an economy-wide cash transaction limit, which it will be able to implement under the Currency Act 2020.
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222Asia-PacificSri Lankan Brokers Prohibited from Charging Interest on Margin Loans
The central bank has also suspended overseas investment and outward remittances by Sri Lankan residents, and cut interest rates for the second time in three weeks.
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340Australia & NZASIC, APRA Offer Best Practice Recommendations on LIBOR Transition
ASIC, APRA and the RBA warn that a failure to transition to alternative reference rates could lead to significant reputational, operational and legal risk and disrupt financial markets.
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309EnforcementRBI to Establish New Banking Fraud Oversight Division
The initiative has reportedly been sped up in response to recent frauds at Yes Bank and Punjab National Bank.
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969AML / KYCHKMA Encourages Remote Onboarding to Manage Covid-19 Challenges
AIs and SVF licensees are encouraged to continue the provide the public convenient account opening and access to banking and payment services.
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493AML / KYCOFSI Fines Standard Chartered $25m for Sanctions Breaches
Standard Chartered made a series of loans to a Turkish private bank, which at the time was almost wholly owned by Sberbank, a sanctioned Russian bank.
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523Fintech / RegtechFSA Japan to Enforce New Crypto Laws from May
Changes to two pieces of legislation will ensure better investor protection, and bring custodians, ICOs, STOs and crypto derivatives under the FSA's remit.
