Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Fintech / Regtech
Japanese Banks Trial Blockchain-based Settlement for Small Transactions
31/10/2018
Nine banks will use Fujitsu technology to test the ability of a custom digital currency to achieve low-cost performance of real-time gross settlement for small-scale transactions.
Big Picture
Asia Struggles to Meet 2020 EU Benchmarks Regulation Deadline
31/10/2018
A number of non-EU benchmark administrators may fail to obtain BMR registration by January 2020, according to a new report from ASIFMA and Herbert Smith Freehills.
Market Infrastructure
NZX Overhauls Listing Rules in Transition to Single Board
30/10/2018
New listing rules to take effect from January, in advance of migration to a single board where equity, debt and fund issuers will be covered in a single rule set.
Securities / Derivatives
China to Release Insurers from Equity Investment Restrictions
30/10/2018
CBIRC draft rules loosen restrictions on how much insurance companies can invest in the stock market and in which sectors they can participate.
Market Infrastructure
StanChart Becomes First Foreign Bank with Custody Licence in China
30/10/2018
The CSRC has granted Standard Chartered Bank a domestic fund custody licence, which until now has been reserved for local institutions.
Enforcement
Taipei Fubon Bank Fined as Two Officers Misappropriate Client Funds
29/10/2018
The FSC has fined the bank $129,000 for internal control failures that allowed two of its officers to misappropriate client funds, and ordered it to dismiss the officers responsible.
Market Infrastructure
China Publishes Draft Rules Easing Market Access for Foreign Banks
29/10/2018
Foreign banks will be allowed to set up wholly-owned branches and subsidiaries in China provided they maintain at least 8% of yuan-denominated risk assets as reserves.
Securities / Derivatives
S. Korea Industry Body KOFIA to Inspect Securities Firms
29/10/2018
The Korea Financial Investment Association will examine internal operations at securities firms in a bid to prevent order-handling accidents and restore market confidence.
Market Infrastructure
HKMA Refines Bank-to-SVF Direct Debit Process to Prevent Fraud
29/10/2018
Banks and stored value facility operators are asked to adopt a ‘refined process’ in setting up direct debit authorisations to top-up e-wallets following last week’s fraud reports.
Enforcement
CBIRC Fines 13 Lenders for Failing to Monitor Consumer Loan Borrowers
26/10/2018
The regulator is trying to prevent the use of consumer credit in speculative investments as part of its efforts to curb risks to the financial system.
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