Lawrence Wong Appointed Chairman of MAS Board

03/07/2023

Lawrence Wong will replace Tharman Shanmugaratnam, who will step down to run in Singapore’s upcoming presidential election.

Securities / Derivatives

Korea Passes Bill to Strengthen Penalties for Unfair Trading

03/07/2023

The FSC will be able to impose a penalty surcharge of up to twice the amount of illegally earned profits. The enhanced penalties will take effect in January 2024.

Capital / Liquidity

PBOC Expands Lending Support Facilities to Boost SME, Agri Sectors

03/07/2023

The PBOC is expanding its relending and rediscounting facilities to incentivise commercial banks to issue loans to small businesses and the agricultural sector.

Securities / Derivatives

SGX RegCo Issues New Guidance on Use of IFAs

03/07/2023

The guidance sets out expectations on the advice IFAs provide on proposed transactions such as exit offers and interested person transactions.

Capital / Liquidity

China: NFRA Issues Regulatory Ratings Framework for Finance Companies

03/07/2023

Finance companies with poor regulatory ratings will be subjected to “continuous regulatory attention” and listed as key targets for on-site inspections.

Enforcement

CFTC Establishes Task Forces to Target Cyber Threats, Environmental Fraud

02/07/2023

The task forces will help the CFTC address cybersecurity issues, emerging technologies like AI, and fraud in carbon markets.

Fintech / Regtech

EU Proposes Measures to Enable ‘Open Finance’ and Tackle Payments Fraud

02/07/2023

Payment service providers will gain a legal basis to voluntarily share payment fraud related information via dedicated IT platforms.

Fintech / Regtech

HKEX Confirms Plans to Expand Paperless Listing Regime

02/07/2023

HKEX will reduce the number of submission documents required from issuers and mandate electronic means as the only mode of submission.

Crypto / Digital Assets

South Korea Passes Virtual Asset User Protection Bill

02/07/2023

The bill focuses on protecting virtual asset users and preventing unfair trading practices. The new framework will be implemented within one year.