AML / KYC

Thai SEC Calls on Crypto Businesses to Improve Cybersecurity

09/02/2022

The SEC reminds crypto businesses to bolsters their cybersecurity systems, safeguard customer assets, and comply with IT audit and penetration testing requirements.

Capital / Liquidity

Korean Banks Resist Pressure to Increase Loan Loss Provisions

09/02/2022

Banks are concerned that higher provisions for loan losses will hamper their growth momentum and end up reducing shareholder dividends.

Securities / Derivatives

Bursa Malaysia Teams Up with HSBC Islamic Bank on ESG Adoption

09/02/2022

Under a new MoU, Bursa Malaysia will collaborate with HSBC Amanah in developing sustainability-linked Islamic financial products and ESG solutions for listed companies.

AML / KYC

ASIC Facing Resistance from Banks on Anti-Scam Measures – Report

09/02/2022

ASIC reportedly decided against including scam prevention as part of its ePayments Code review as a result of “fierce pushback” from major banks.

HKMA Further Extends Initiative to Nurture Banking Sector Talent

09/02/2022

The Banking Talent Programme provides fresh grads with short-term work opportunities and professional training, partly subsidised by the HKMA.

Taiwan FSC to Revise Key Threshold Used in Compliance Checks

08/02/2022

The FSC will change a threshold it uses to determine whether to accept a financial institution’s application to start a new business.

Fintech / Regtech

UK Issues Tax Guidance for DeFi Lending & Staking

07/02/2022

CryptoUK says the approach would create an “unnecessary burden” for crypto investors and create tax compliance confusion.

ESG / Sustainability

Japan FSA Forms Subcommittee to Address ESG Data Issues

07/02/2022

The subcommittee was formed to formalise discussions with ESG rating and data providers on addressing issues relating to data quality and reliability.

Enforcement

CBIRC Vows to Continue Efforts to Prevent, Resolve Financial Risks

07/02/2022

The CBIRC said it will dismantle “high-risk shadow banks”, and crack down on illegal financial and fundraising activities, unfair competition, and unlicensed financial businesses.