Custody & Infrastructure

S. Korea FSS Pushes for Blockchain Use in Stock Transactions

06/08/2018

FSS is advocating for regulatory agencies and private companies to work together to enable stock trading through blockchain, noting progress in the US, UK, Japan and Australia to move forward on the technology.

Market Risk

China Raises Reserves Required to Short Yuan in Bid to Stem Losses

06/08/2018

Chinese yuan reached its lowest level since end-May 2017 amid growing economic uncertainty and trade war concerns, prompting the PBOC to defend the currency by making it more costly to bet on weakness.

KYC & CDD

RBI Probes KYC/AML Compliance at Payments Banks

06/08/2018

Paytm and Fino Payments Bank have been barred from accepting new clients due to the RBI’s concerns about their adherence to KYC/AML norms.

Anti-Money Laundering

S. Korea Announces Revised Tax Bill

06/08/2018

Bill expands crackdown on tax evasion, ends derivatives tax exemptions, disqualifies crypto exchanges as SMEs for tax reductions.

Capital Adequacy

PBOC Takes Softer Stance on Bank Lending Caps – Report

02/08/2018

Central bank guidance indicates a willingness to be more flexible on lending caps, as economy starts to cool and is threatened by a trade war with the US.

Trading & Investment

IOSCO Issues Recommendations on Managing Extreme Volatility

02/08/2018

IOSCO believes volatility control mechanisms support the goal of ensuring markets are fair, efficient and transparent, thereby increasing market integrity and investor confidence.

Payments & Settlements

PBOC Announces Licence Application by Foreign Payment Firm

02/08/2018

World First Asia subsidiary Yuefan Business Consulting would become the first foreign-funded third-party payment institution in China if its licence is approved.

Structural Regulation

Japan’s Line Corp to Set Up Digital Bank in Taiwan

30/07/2018

‘Line Bank’ will be set up in partnership with up to five local partners to take deposits, provide loans, and sell mutual funds and insurance policies.

Market Abuse

S. Korea FSC Imposes Six Month Suspension on Samsung Securities

29/07/2018

A result of April’s dividend payout error, Samsung Securities has been barred from accepting new clients for six months and order to suspend its chief executive, who has instead resigned.