Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Market Infrastructure
Japan Banks Finalise Decision to Lower Interbank Transfer Fees
22/03/2021
Effective from 1 October, interbank money transfer fees will be lowered to JPY 62 per transaction, the first reduction in 40 years.
Market Infrastructure
LCH Sets Dates for Conversion of SwapClear LIBOR Contracts
21/03/2021
Conversion of CHF, EUR and JPY LIBOR shall apply to SwapClear contracts outstanding on 3 December. Conversion of GBP LIBOR will apply to contracts outstanding on 17 December.
AML / KYC
FATF Seeks Stakeholder Views on Updated VASP Guidance
21/03/2021
Views are sought from academics, policy bodies, VASPs, technology developers and providers, other regulated entities such as banks, and authorities.
AML / KYC
AUSTRAC Questioned on Handling of Drug Money Case
21/03/2021
AUSTRAC reportedly said it has not taken action against the banks involved because they did not have reason to be suspicious of the transactions and they aided the investigation.
Fintech / Regtech
HKMA Outlines Regtech Use Cases for Treasury Operations
21/03/2021
The use cases presented include solutions to detect rogue trading activities, standardise derivatives trading lifecycle events, and enhance liquidity risk monitoring.
Enforcement
CBIRC Fines Sichuan Trust Over Illegal Loans, Other Violations
21/03/2021
The CBIRC listed 13 violations for the CNY 34.9 billion fine. A team of officials already took control of Sichuan Trust in December following its failure to repay investors.
Securities / Derivatives
Malaysia Grants Fee Waivers, Rebates on Listing Related Fees
21/03/2021
Processing fees, prospectus registration fees, initial fees and annual listing fees will be provided to companies seeking a listing, while companies already listed can receive rebates.
AML / KYC
China: 13 Arrested for Using Crypto to Launder Fraud Proceeds
21/03/2021
The suspects confessed to laundering proceeds from telecoms fraud using Tether, before withdrawing the funds to transfer overseas.
Enforcement
ASIC Bans Director, Account Managers at FX Broker
21/03/2021
Clients were pressured to deposit funds into their trading accounts, engage in high-risk trading, and delay or cancel withdrawal requests.
AML / KYC
FCA Files Criminal Proceedings Against NatWest for AML Failures
19/03/2021
NatWest is facing criminal charges for not adequately monitoring and scrutinising large payments into a corporate client’s accounts.
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