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
Market Infrastructure
CFTC to Propose Rule on Operational and Cyber Resilience
23/06/2023
CFTC commissioner sees a need for the industry to shift “from incident response to cyber resilience”. New rule will be proposed in the next few months.
AML / KYC
US, EU Push for UAE Removal from FATF Gray List
23/06/2023
Some officials have reportedly been pushing for UAE to be removed from the FATF’s grey list. The country could be removed in as soon as a few months.
Crypto / Digital Assets
Upper House of UK Parliament Approves Financial Services and Markets Bill
23/06/2023
The bill will give regulators powers to regulate stablecoins and crypto activities and enable the PSR to force banks to reimburse APP fraud victims.
Market Infrastructure
Philippines Sets Temporary Replacement Rate for LIBOR
23/06/2023
The temporary O/N reference rate to replace LIBOR will be based on the 28-day BSP bill rate. A permanent benchmark and “credible” yield curve will be developed by January 2024.
Fintech / Regtech
FSB Consults on Third-Party Risk Management Toolkit
23/06/2023
The toolkit has been developed amid a growing reliance on third-party service providers for critical financial sector operations.
AML / KYC
OCBC Launches Digital Account Opening Service for Foreign Consumers
23/06/2023
Customers who plan to relocate to Singapore from Malaysia, Indonesia, mainland China and Hong Kong can open OCBC bank accounts digitally.
Sanctions
US Sanctions Myanmar Ministry of Defence, Two State Banks
23/06/2023
OFAC said the two banks facilitate foreign currency exchanges that enable the military regime to buy weapons from foreign markets and entities.
AML / KYC
Senate Committee to Investigate Perth Mint’s AML Compliance
22/06/2023
The Senate voted to set up the inquiry into Perth Mint, without support from the federal Labor government.
Fintech / Regtech
ASIC Chair Cautions Against Hasty Implementation of AI Tools
22/06/2023
ASIC plans to extend its automated order processing rules to futures markets and update its electronic trading guidance to reflect developments with AI.
Enforcement
SEBI Settles With NSE Over 2021 Trading Glitch
22/06/2023
NSE and NSE Clearing have to pay a combined $8.9mn to end proceedings over a 2021 glitch that cause a complete trading halt for over three hours.
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