Enforcement

Hong Kong Forex Broker Fined for Mishandling Client Money

23/08/2018

HPI Forex Limited transferred client money from segregated client account to two overseas brokers, breaching the Code of Conduct and the SFC’s client money rules.

Fintech / Regtech

Thailand Central Bank Digital Currency Prototype Slated for Q1 2019

22/08/2018

Bank of Thailand will work with 8 participating banks to design, develop and test domestic wholesale funds transfers using a central bank digital currency.

Crypto / Digital Assets

Chinese Police Arrest Hackers on Suspicion of $88mn Cryptocurrency Theft

22/08/2018

Chinese police have arrested three individuals who allegedly hacked computers belonging to individuals and companies to steal 600 million yuan in bitcoin and ether.

Fintech / Regtech

Cambodia Launches Fintech Association

21/08/2018

New body will connect Cambodia with overseas fintech associations and has already signed agreements with associations in Thailand, Singapore and Taiwan.

Crypto / Digital Assets

Thailand Green Lights Seven Crypto Operators

21/08/2018

Crypto businesses were in May given 90 days to register with the SEC if they wished to carry on their business.

Capital / Liquidity

Moody’s Upgrades 14 Vietnamese Banks Following Sovereign Ratings Upgrade

20/08/2018

Three state-run banks were among those that received local and foreign currency ratings upgrades following a notch up in Vietnam’s sovereign rating earlier this year.

AML / KYC

HKMA Reprimands, Fines Shanghai Commercial Bank for AML/CFT Failures

20/08/2018

The bank was fined HK$5mn for ineffective procedures for continuous monitoring of business relationships and due diligence on pre-existing customers.

Market Infrastructure

CPMI, IOSCO Consult on Governance of OTC Derivatives Data

20/08/2018

New consultative document identifies key criteria, functions and bodies for the governance arrangements for critical OTC derivatives data elements data, other that UTI and UPI.

Fintech / Regtech

China Seeks ‘Bad Bank’ AMCs’ Help to Resolve P2P Crisis

20/08/2018

The government is asking the 4 state-owned asset managers set up in 1999 to repair bank balance sheets for help with custody, liquidation and restructuring of P2P assets.