Editors

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    Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com

    Articles by Editors

    AML / KYC

    OFAC Sanctions Adult Children of Myanmar Military Leader

    11/03/2021

    The two adult children of the commander-in-chief of Myanmar’s military, Min Aung Hlaing, and six of their companies, have been designated by OFAC.

    AML / KYC

    GLEIF to Accelerate the LEI Integration in Digital Certificates

    11/03/2021

    GLEIF will work with Certification Authorities and Trust Service Providers to develop and promote best practices for the use of LEIs in digital certificates.

    Australia Announces Expansion of SME Loan Guarantee Scheme

    11/03/2021

    The government will guarantee up to 80 percent of the loans under the scheme, while also increasing the loan limit and allowing larger businesses to also benefit.

    AML / KYC

    Singapore Police Arrest Man Over China Official Impersonation Scam

    11/03/2021

    The man received over S$209,000 from a woman who was told she was under investigation and needed to resolve the case.

    Enforcement

    ACCC Accepts Visa Commitment to Address Competition Concerns

    11/03/2021

    Visa is legally bound to ensuring that merchants will not pay higher processing costs if they process debit card payments through eftpos rather than the Visa network.

    AML / KYC

    SWIFT Embeds ESG Due Diligence in KYC Registry

    11/03/2021

    The integration of the ICC’s Guidelines into SWIFT’s KYC Registry allows corporates to only complete and update a single form to provide ESG information to different banking partners.

    Enforcement

    ICAC Charges Former AIA Employees for Fraud

    11/03/2021

    A former district manager and former insurance agent jointly face three counts of fraud for allegedly deceiving AIA into paying them commissions for three insurance policies.

    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.

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