Conduct, Culture & Accountability

BNM Issues New Rules for Banks Selling Insurance & Takaful Products

02/07/2022

The board and senior management shall be held “jointly accountable” for bancassurance/bancatakaful products that result in “poor consumer outcomes”.

Anti-Money Laundering

Limited Progress Made on Travel Rule Implementation: FATF

01/07/2022

Jurisdictions have made “only limited progress” over the last year to implement the travel rule in the crypto industry, the FATF says.

Cryptocurrency

MAS Reprimands Crypto Hedge Fund Three Arrows Capital

01/07/2022

MAS said Three Arrows Capital exceeded its allowable AUM and gave the regulator a false representation. The company entered into liquidation this week.

Data Privacy

China Proposes New Cross-Border Data Transfer Mechanism

01/07/2022

Eligible companies can transfer data across borders by signing standard contracts with overseas recipients that align with China’s data protection law.

Structural Regulation

GFXC Launches New Tool to Drive Adoption of FX Global Code

01/07/2022

The new web-based prototype tool will reduce the barriers to signing the Code and encourage adoption by more buy-side firms.

Climate Risk

HKMA to Integrate Climate Risk in Supervisory Processes

01/07/2022

Climate risk management will be a standing item in annual prudential meetings with banks. The CAMEL rating framework will be updated.

Anti-Money Laundering

FATF Seeks Views on Improvements to Recommendation 25

30/06/2022

The review is intended to improve Recommendation 25 and its Interpretive Note to better meet its stated objective to prevent the misuse of legal arrangements.

Data Privacy

Thai SEC Launches Open Data Portal to Enhance Transparency

30/06/2022

The data centre provides information on business operators, licensed individuals, and the products available – including digital assets.

Trading & Investment

SEBI Announces Decision to Allow FPIs to Trade Commodity Derivatives

30/06/2022

FPIs will be allowed to trade non-agri commodity derivatives and select non-agri benchmark indices. Only cash-settled contracts will be allowed.