Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
AML / KYC
FSC Korea Proposes New Penalty Standards for VASPs
11/03/2021
FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.
Securities / Derivatives
Chinese State-backed Funds Intervene to Calm Market
11/03/2021
The government reportedly blocked social media mentions of the stock market while local media outlets downplayed recent market turbulence.
Enforcement
APRA Accepts Court Enforceable Undertaking from Allianz
11/03/2021
Allianz Australia acknowledges previous risk and compliance weaknesses and emphasises its commitment to addressing these issues.
AML / KYC
HK: BNO Passports May Not be Used for Early MPF Withdrawal
11/03/2021
MPF scheme members cannot rely on a BN(O) passport or its associated visa as evidence in support of an application for early withdrawal of MPF.
Capital / Liquidity
FSC Korea Extends Easier Liquidity Rules for Banks
10/03/2021
The easier liquidity rules, introduced in April and extended in August, are now scheduled to end at the end of September.
Capital / Liquidity
PBOC to Limit Short-term Bond Issuance by Securities Firms
10/03/2021
Short-term bonds issued by securities firms will subject to a limit of 60% of net capital. The eligibility criteria have also been strengthened.
Capital / Liquidity
RBNZ Removes Liquidity Facilities Amid Improving Market Conditions
10/03/2021
Financial market conditions have “improved significantly” since the Term Auction Facility and the Corporate Open Market Operation were introduced.
AML / KYC
China to Bolster Legal Defences Against Foreign Sanctions
09/03/2021
China plans to accelerate legislation designed to guard against foreign sanctions, interference and long-arm jurisdiction, a top lawmaker has said.
EBA on Heightened Security Alert Following Cyber Attack
09/03/2021
Tens of thousands of organisations in Asia, Europe and the US were targeted in a campaign that exploited vulnerabilities in different versions of Microsoft’s mail server software.
Market Infrastructure
HKMA Issues Guidance for Bond Connect FX Settlement Banks
09/03/2021
Hong Kong FX Settlement Banks should ensure that FX conversion and hedging transactions arise from “genuine and reasonable” Bond Connect investment needs.
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