Crypto / Digital Assets

Thailand Unveils Three-year Capital Market Development Plan

05/02/2019

The SET’s plan is aimed at broadening its investor base, scaling up digital transformation, widening access to mutual funds and streamlining regulatory processes.

AML / KYC

HKMA’s Regulatory Expectations of Remote Customer On-boarding

05/02/2019

Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.

Fintech / Regtech

Global Innovation Sandbox Opens for Cross Border Testing

04/02/2019

The GFIN’s 29 members include the HKMA, SFC, MAS and ASIC. Applications are now open for firms looking to test innovative cross border financial services.

AML / KYC

UPDATED – Bangladesh Bank Files New York Lawsuit over Cyber Heist

04/02/2019

Bangladesh Bank has filed a $66mn lawsuit against Philippines-based RCBC and others over the 2016 bank heist, where hackers stole $101mn from its account with the New York Fed.

Enforcement

PBOC Sets Up New Bureau to Oversee Financial Regulation

04/02/2019

China’s central bank has set up a new macro-prudential management bureau to monitor financial systemic risks, draft rules and advise on currency issues.

Securities / Derivatives

UPDATED – Hong Kong SFC Revamps Licensing Processes

04/02/2019

The move is aimed at halting “rolling bad apples” in their tracks by requiring firms to provide the SFC with details about employee departures, says Herbert Smith Freehills.

Market Infrastructure

Asia Region Funds Passport Goes Live

03/02/2019

Japan, Thailand, Australia ready to receive applications from prospective ARFP funds; New Zealand, S. Korea making progress on legal and regulatory requirements.

Enforcement

India Launches Money Laundering Probe Against Former ICICI Bank Chief

03/02/2019

India’s Enforcement Directorate will seek to determine if alleged kickbacks generated in loan deals worth $262mn were laundered to create tainted assets.

Fintech / Regtech

SWIFT to Test New Gateway Enabling gpi for E-commerce

01/02/2019

The proof-of-concept will enable gpi payment initiation, end-to-end payment tracking, payer authentication and credit confirmation for on trade platforms.