Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Thai Banks to Give Borrowers One-year Grace on Loan Repayment
04/03/2020
A yearlong grace period on loan repayments is reportedly being offered by banks to companies in the tourism sector, exporters, importers and retailers.
Market Infrastructure
Central Banks Act to Mitigate Covid-19 Economic Threat
04/03/2020
The HKMA has responded to the US rate cut with a cut of its own. The RBA and BNM have also cut their key policy rates, while the BOJ focuses on asset purchases.
FSC Korea Plans New Legislation to Protect Delinquent Debtors
04/03/2020
The bill is aimed at helping delinquent debtors get back on their feet by limiting debt collection activities and requiring lenders to offer restructuring opportunities.
AML / KYC
OFAC Sanctions Two Chinese Nationals Over Stolen Cryptocurrency
03/03/2020
OFAC has linked two Chinese nationals to the 2018 theft of $250mn in cryptocurrency by the Lazarus Group, a US-designated North Korean cybercrime group.
Market Infrastructure
Covid-19 Presents Greatest Economic Danger Since GFC: OECD
03/03/2020
The OECD recommends providing banks with liquidity to allow them to help companies with cash-flow problems, and to consider reducing reserve requirements.
Market Infrastructure
SWIFT Reports Near Doubling of Year-on-year gpi Traffic
03/03/2020
Nearly two-thirds of all payments traffic on SWIFT is now sent via gpi, with the majority of transactions credited to end beneficiaries within 30 minutes or less.
Market Infrastructure
BNM Updates Regulatory Framework for Digital Banks in New Draft
03/03/2020
The new exposure draft incorporates a simplified regulatory framework for digital banks applicable during the initial three to five years of operations.
Securities / Derivatives
S. Korea Set to Introduce Trade Repository in October
03/03/2020
Legislative revisions have been approved establishing statutory provisions for a trade repository, and penalties up to 100mn won for failures to report OTC derivatives transaction information.
SEBI Lowers Net Worth Requirement for Gift City Investment Advisers
03/03/2020
The net worth requirement has been lowered to $700,000 from $1.5mn previously following feedback on SEBI’s January guidelines for Gift City investment advisers.
Securities / Derivatives
S. Korea Mulls Hong Kong-Style Short Selling Rules
03/03/2020
The FSC and FSS are considering restricting short-selling of listed companies based on market cap in a bid to level the playing field for retail investors.
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