Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Enforcement
ASIC Quadrupled Criminal Charges Laid in H2 2019
30/04/2020
In the six months to December 2019, ASIC did not have any new enforceable undertakings, reflecting its post-Royal Commission ‘why not litigate’ approach to enforcement.
SFC Offers Guidance on Cyber Risk of Remote Office Arrangements
29/04/2020
In a circular, the SFC sets out examples of controls and procedures to help licensed corporations protect their internal networks and data.
AML / KYC
FATF Postpones Mutual Evaluations, Follow-up Deadlines
29/04/2020
All mutual evaluations and follow-up deadlines are postponed, and FATF will review grey-list jurisdictions in October rather than June as previously scheduled.
AML / KYC
G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions
29/04/2020
Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.
Big Picture
Banking Regulation, Innovation Responsible for Shadow Bank Growth
29/04/2020
Regulatory burden on banks and technological improvements are likely the two most important factors behind shadow bank growth, a new paper says.
AML / KYC
PBOC Penalties for AML Violations Spike in Q1 2020
29/04/2020
The increase in penalties is in part the result of a new calculation method in use at the PBOC, where penalties can now accumulate when multiple breaches occur at once.
India Brings to Life Unified Regulator for IFSCs
29/04/2020
The new authority can now appoint members and employees, set up funds and apply tax exemptions, but other regulatory and supervisory powers have not yet taken effect.
Fintech / Regtech
Beijing Fintech Regulation Pilot to Expand to Six Other Cities
29/04/2020
The expanded pilot programme will seek to guide FIs and fintech firms towards exploring the use of technology to support small firms with funding difficulties.
Enforcement
Korea: FSS Confirms ‘Bad Bank’ Plan to Recover Lime Asset Losses
29/04/2020
FSS governor Yoon Suk-heun also pledged to establish a sustainable monitoring system, in light of events at Lime Asset Management and last year’s derivative product mis-selling at banks.
Securities / Derivatives
Malaysia SC Eases Rules for Issuing Convertible Notes to VC, PE Firms
28/04/2020
The flexibilities are aimed at easing the fundraising process for MSMEs as well as small and mid-cap companies, making it more cost-effective and reducing time to market.
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