Editors
Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Articles by Editors
AML / KYC
FinCEN Finalises Rule on Use of FinCEN Identifiers in BOI Reporting
08/11/2023
Beneficial owners of numerous reporting companies would be able to use FinCEN identifiers to simplify the reporting process and for data security purposes.
Fintech / Regtech
Singapore’s OCBC Experiences 2.5 Hour Service Disruption
08/11/2023
In Singapore, banks are required to ensure that critical systems and services can be restored within four hours following an outage.
AML / KYC
Malaysia Close to Settling Outstanding 1MDB Debts – Report
08/11/2023
Funds Malaysia will receive next year as part of a settlement with an Abu Dhabi state fund will give it enough to pay off 1MDB’s remaining debts.
Sanctions
New York State Fines Payments Company for Weak Sanctions Controls
07/11/2023
Payoneer settles with New York State for USD 1.2 million for compliance failings after paying OFAC USD 1.4 million in 2021.
AML / KYC
Taiwan Financial Adviser Suspected of Colluding with Fraud Syndicates
07/11/2023
A former financial adviser of DBS Taiwan reportedly caused $1.5mn of losses to clients through collusion with criminal gangs and fraud groups.
Capital / Liquidity
CSRC Proposes to Relax Capital Rules for Securities Firms
07/11/2023
The proposal adjusts the way securities firms calculate risk weightings, effectively reducing their capital requirements and allowing them to deploy more funds into the capital market.
Sanctions
US Government Tells Banks to Watch for Signs of Export Controls Evasion
07/11/2023
Latest BIS-FinCEN alert introduces a new filing code for suspicious activity reports related to suspected export controls evasion.
Enforcement
New OFAC Settlement Highlights Compliance for E-Commerce
07/11/2023
The US Treasury Department said a US-based online rewards company failed to identify transactions involving persons in Crimea, Cuba, Iran, and Syria.
Securities / Derivatives
CFTC to Allow Brokers Greater Flexibility to Invest Client Funds
06/11/2023
FCMs and DCOs will be able to invest client funds in foreign sovereign debt and certain short-term US Treasury ETFs.
Securities / Derivatives
Philippine Stock Exchange Debuts Short Selling – Report
06/11/2023
A total of 52 stocks and one ETF are available for short-selling. The PSE first proposed to allow short-selling in 1996.
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