Market Infrastructure

IIA Releases New Global Internal Audit Standards

10/01/2024

The Standards will help elevate the quality of internal auditing and enhance the internal audit function’s role as a partner to boards and senior management.

AML / KYC

Singapore Tables Bill to Strengthen Measures Against PF Risk

10/01/2024

Gem and precious metal dealers, legal practitioners, moneylenders and pawnbrokers will be required to address proliferation financing risks.

Korea Expands Loan Switching Platform to Mortgage, Jeonse Loans

10/01/2024

The online loan transfer system was established last year to enable borrowers to easily switch credit loans to those offering better rates.

Singapore FIDReC Proposes to Raise Adjudication Award Limit

09/01/2024

The adjudication award limit is set at SGD 100,000, however FIDReC says the number of claims exceeding this limit has risen in recent years.

Fintech / Regtech

BSP Proceeds With Soft Launch of New ITRS System

09/01/2024

The soft launch of the new International Transaction Reporting System commenced as planned on 8 January. Full implementation is deferred from April to June.

Capital / Liquidity

China Proposes Revised Rules for Financial Leasing Sector

09/01/2024

The NFRA added a new financial leverage indicator and new liquidity supervision indicators for financial leasing company evaluations.

Enforcement

China to Prosecute Former Everbright Group Chairman

09/01/2024

Tang Shuangning became the second former chairman of China Everbright Group to be dismissed from the CCP in recent months.

Crypto / Digital Assets

Thai SEC Proposes Changes to Digital Assets Licensing Process

09/01/2024

The SEC said the changes will enhance the efficiency of the licensing process and ensure greater clarity and appropriateness of the regulatory framework.

ESG / Sustainability

Malaysia Set to Consult on Local Use of ISSB Standards 

09/01/2024

A six-week public consultation will be launched next month to solicit views and feedback on implementing the ISSB standards.