Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Market Infrastructure
UK, Switzerland to Mutual Recognise Financial Services Laws
22/12/2023
For certain sectors, UK financial services firms will be able to serve clients in Switzerland while largely following UK rules, and vice versa.
Enforcement
Korea Considers Naked Short-selling Penalties for Global Banks
22/12/2023
Last month, Korean regulators said they found that the Hong Kong units of HSBC and BNP Paribas committed naked short selling.
Hong Kong Consults on Implementation of Global Minimum Tax
22/12/2023
Hong Kong intends to apply the global minimum effective tax rate of 15 percent on in-scope MNE groups starting from 2025 onwards.
Fintech / Regtech
HKMA Announces Launch Date for Bank Account Data Sharing Pilot
22/12/2023
The IADS pilot programme will commence on 1 January 2024 with the participation of 28 banks, covering deposit account information.
Market Infrastructure
China to Add Macau Pataca to Interbank FX Trading System
22/12/2023
Trading in the RMB/MOP currency pair will launch on 2 January 2024, and in the USD/MOP and HKD/MOP pairs from 2 March.
AML / KYC
NZBA Issues Update on Anti-Scam Initiatives
21/12/2023
The first phase of the new national Anti-Scam Centre is “now live”, focusing on sharing information on money mules.
Market Infrastructure
ACCC Responds to Government’s Merger Reform Proposals
21/12/2023
ACCC Chair Gina-Cass-Gottlieb said the government’s proposals for merger reform aren’t sufficient and that the ACCC’s own proposal would achieve the “right balance”.
Securities / Derivatives
CFTC Proposes Rules on Operational Resilience, Funds Segregation
20/12/2023
The CFTC also granted DCO registration to a crypto derivatives exchange and brokerage, allowing it to act as its own clearinghouse.
Crypto / Digital Assets
UK to Launch Digital Securities Sandbox on 8 Jan 2024
20/12/2023
The sandbox will allow FMIs to test the use of new technology including DLT to operate trading venues and perform CSD activities.
China Issues New Rules for Consumer Finance Companies
20/12/2023
The rules focus on improving corporate governance, strengthening risk management, and enhancing protections for financial consumers.
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