Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Market Infrastructure
SWIFT Developing Low-Value Cross-Border Payments Service
02/10/2020
The new initiative will improve the payments experience for consumers and SMEs, making them faster, more transparent, easier and competitively priced.
AML / KYC
Taiwan to Set New AML/CFT Rules for Accountants
01/10/2020
Accountants will not be allowed to establish business relationships or conduct transactions with clients until their identities and actual beneficiaries are verified.
Securities / Derivatives
SEBI Orders Faster Liquidation of Defaulting Brokers’ Assets
01/10/2020
Stock exchanges and clearing corporations should sell brokers’ securities if debit balances are not cleared in 5 days, and to sell other broker assets six months after the default.
Securities / Derivatives
Korea to Amend Law to Protect Private Equity Fund Investors
01/10/2020
The revisions will enhance oversight and risk assessment of private equity funds, and prevent illiquid funds from being marketed to retail investors.
Fintech / Regtech
RegTech Asia 2020: Regulatory Reporting & Data Management
01/10/2020
How have regulatory reporting requirements been changing in APAC, and what has this meant for data management practices at financial institutions?
SAFE Eases Administrative Burden of Bank Statistical Reporting
01/10/2020
Rule revisions relax requirements for banks to print foreign payment and collection vouchers, while also clarifying electronic forms and vouchers may be used in submissions.
ESG / Sustainability
First Chinese Sustainability Bond on Display at LuxSE’s Green Exchange
01/10/2020
The new $300mn issuance on display at LGX makes China Merchants Bank the first Chinese commercial bank to issue a sustainability bond.
Enforcement
CFTC Settles Charges Against Citi Over Deleted Audio Recordings
01/10/2020
Citi’s audio preservation system deleted more than 2.77 million audio files, including recordings that were subject to a December 2017 CFTC subpoena.
Capital / Liquidity
Fed Extends Restrictions on Bank Dividends, Share Buybacks
01/10/2020
Banks with more than $100bn in total assets are not allowed to initiate new share buyback programmes and dividends are capped based on recent income.
Market Infrastructure
CHESS Replacement ‘Critical’ to Manage Systemic Risk: RBA
01/10/2020
Replacing CHESS with more modern technology is critical to ASX’s ongoing management of systemic risk, said RBA assistant governor Michele Bullock.
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