Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Fintech / Regtech
S. Korea’s KakaoPay Green-lit to Offer Brokerage Services
10/02/2020
The FSC has granted final approval to KakaoPay allowing it to acquire Baro Investment & Securities and enter the brokerage services space.
HSBC Provides Relief to Customers Impacted by Outbreak
10/02/2020
HSBC becomes the latest Hong Kong bank to announce relief measures for business owners impacted by the novel coronavirus and its effects on the economy.
AML / KYC
US Treasury Issues 2020 National Strategy for Combatting Illicit Finance
10/02/2020
The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.
MAS Issues Advisory to FIs Amid Higher Coronavirus Alert Level
10/02/2020
MAS asks financial institutions to ensure business continuity and warns that cyber threat actors are taking advantage of the novel coronavirus situation to conduct email scams, phishing and ransomware attacks.
Securities / Derivatives
SGX to Allow Some Issuers to Delay AGM, Audited Results
10/02/2020
The extension is for issuers whose principal place of business or significant operations are in China, and whose audits have been affected by coronavirus-related measures.
Capital / Liquidity
BIS Paper Identifies Sources of Regulatory Fragmentation in Banking
09/02/2020
The paper points to varying asset valuation practices, which impact measurements of banks’ regulatory capital, along with Pillar 1 and Pillar 2 implementation differences.
Enforcement
SFC Bulletin Shows Sponsor Conduct Still Top-of-mind
07/02/2020
The Regulatory Bulletin offers case studies illustrating the SFC’s key areas of concern and recent regulatory interventions in IPO applications and corporate transactions.
AML / KYC
EBA Consults on Revised ML/TF Risk Factors Guidelines
07/02/2020
The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.
Securities / Derivatives
SGX RegCo Offers Guidance as New Disclosure Rules Take Effect
07/02/2020
Listed companies should have robust and effective internal controls in place to assess material information requiring disclosure, says SGX RegCo chief Tan Boon Gin.
Capital / Liquidity
Cabinet Approves Amendments to Bring Co-op Banks Under RBI Oversight
07/02/2020
Under the amendments, the RBI gain powers to supersede the board of a cooperative bank under stress, with government approval.
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