AML / KYC

AUSTRAC Asks Banks to Avoid Indiscriminate De-banking Practices

31/10/2021

De-banking activities lead criminal activity underground and compound the risks criminals pose to Australia’s financial system and the community.

Market Infrastructure

MAS Advisory Panel Offers Recommendations on Cybersecurity

31/10/2021

The Cyber Security Advisory Panel said security awareness and competency in the blockchain space are “not where they needed to be”.

Market Infrastructure

Malaysia, Thailand Expand Local Currency Settlement Framework

31/10/2021

Malaysian and Thai businesses and individuals can use local currencies to make cross-border payments for trade, investment, income and transfer.

Securities / Derivatives

China to Continue Tax Exemptions for Foreign Bond Investors

31/10/2021

Exemptions from corporate income tax and value-added tax due to expire on 6 November will be extended until 31 December 2025.

Crypto / Digital Assets

Tokyo Court Confirms $9bn Plan to Repay Mt Gox Creditors

30/10/2021

The rehabilitation plan will lead to the distribution of more than $9bn to investors who lost bitcoins when Mt Gox closed more than seven years ago.

Securities / Derivatives

HKMA, SFC Direct Intermediaries to Improve Client Trade Practices

30/10/2021

Intermediaries have been required to undertake remedial action to address non-compliance with transaction-related disclosure requirements.

Enforcement

CBIRC Shanghai Launches Crackdown on Coal Price Speculation

29/10/2021

The CBIRC’s Shanghai bureau has banned the use of bank and insurance funds to influence the commodity market, as China faces nationwide power shortages.

Crypto / Digital Assets

ASIC Issues Guidance on Crypto-asset Investment Products

29/10/2021

ASIC says it has introduced a new ‘crypto-asset’ category in the licensing application for responsible entities.

Securities / Derivatives

SFC Finalises Changes to Code on Pooled Retirement Funds

29/10/2021

The amendments include enhanced requirements for PRF operators including product providers, trustees, management companies and insurance companies.