Crypto / Digital Assets

Japan FSA Reorganises to Meet Fintech Challenge

19/07/2018

Newly created Strategy Development and Management Bureau responsible for financial policy, fintech, cryptocurrencies, money laundering, as well as administraitive duties and inspections at financial institutions.

Market Infrastructure

MAS, HKMA Commit to FX Global Code

30/05/2018

Over 200 global FX market participants have committed to the Code to maintain status as central bank counterparties.

Capital / Liquidity

MAS Raises Bank Deposit Insurance Protection 50pc

21/05/2018

Deposit Insurance Scheme coverage to increase to protect up to SGD75,000 per depositor, up from SGD50,000, starting from 1 April 2019.

Market Infrastructure

UPDATED – Myanmar Approves Formation of First Credit Bureau

18/05/2018

Joint venture between banks association and Singapore-based ACB Holdings to establish credit bureau will enable banks to better assess loan risks.

Enforcement

China Fines Three Banks a Combined CNY180 million

10/05/2018

China’s banking and insurance regulator has imposed fines on China Merchants Bank, Shanghai Pudong Development Bank and Industrial Bank for various violations.

Enforcement

CBA Settles Bank Rate Manipulation Charges for A$25mn

10/05/2018

The bank acknowledges it manipulated bank bill swap rates on five occasions and indulged in “unconscionable conduct” in its A$25 million settlement with ASIC.

Enforcement

FSB Issues Recommendations on Compensation Data Reporting

08/05/2018

Proposed data sets include questions for determining whether governance processes appropriately use compensation and incentive systems to promote good conduct, remediate undesirable conduct and support identification of emerging misconduct risk.

AML / KYC

MAS Hits Former Credit Suisse Banker with Prohibition Orders

07/05/2018

Former representative deliberately concealed identity of beneficial owner on three accounts, making it difficult for the bank to monitor and detect suspicious transactions.

Market Infrastructure

SEBI Issues New Risk Management Guidelines for Derivatives

04/05/2018

Guidelines to take effect in June specify margin calculation methods, collection and enforcement norms, and method of calculation of trading and clearing members’ liquid net worth, effective from June.