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

    Korea: Details of 900,000 Credit Cards Leaked, Sold Overseas

    09/06/2020

    The leaked information included card numbers, expiration dates and the three-digit security code on the back of cards. About 410,000 of the leaked cards are still active.

    Capital / Liquidity

    RBI Proposes New Norms for Loan Sales and Securitisations

    09/06/2020

    The draft frameworks will make it easier for banks and other lenders to remove loans from their books amid increasing asset quality and liquidity pressures.

    Fintech / Regtech

    MAS Launches Global FinTech Innovation Challenge

    08/06/2020

    The competition will seek innovative solutions that can help financial institutions respond to two critical global challenges: Covid-19 and climate change.

    Capital / Liquidity

    SFC Fines Potomac Capital for Breaching Financial Resources Rules

    08/06/2020

    Potomac misinterpreted the financial resources rules and incorrectly including aged fees receivables as liquid assets, leading to an overstatement of liquid capital.

    AML / KYC

    FSC Korea Launches Task Force on Identity Verification Systems

    08/06/2020

    The FSC supports the development of innovative authentication mechanisms that can provide convenience, safety and security in electronic financial transactions.

    Enforcement

    Luckin Coffee Chairman Likely to Face Criminal Charges – Report

    08/06/2020

    The CSRC and Ministry of Finance have reportedly found new email evidence indicating that chairman Lu Zhengyao instructed his colleagues to commit fraud.

    AML / KYC

    Singapore to Tighten AML Rules for Casinos – Report

    08/06/2020

    Singapore’s legislated threshold for cash transactions that are subject to due diligence is higher than the $3,000 threshold set by the FATF.

    Market Infrastructure

    BNY, Deutsche to Set Up FX Trading Infrastructure in Singapore

    08/06/2020

    Seven major firms have already set up FX pricing and matching engines in Singapore, the result of a MAS initiative to lower routing latencies in the city-state.

    Fintech / Regtech

    SEBI Launches Regulatory Sandbox for Capital Market Participants

    08/06/2020

    Regulated entities will be granted facilities and flexibilities to experiment with fintech solutions in a live environment, on a limited set of real customers, for a limited time frame.

    Enforcement

    CBA Ordered to Pay A$5m Over Agricultural Lending Products

    08/06/2020

    CBA’s failures were attributed to the highly manual nature of the systems it used to apply package benefits, and the lack of systems or processes to check whether customers were receiving said benefits.

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