AML / KYC

Crypto Travel Rule Comes into Force in the UK

04/09/2023

The UK is now one of several jurisdictions to have now implemented the travel rule for the crypto sector.

Crypto / Digital Assets

Swift Publishes Findings from Tokenisation Experiments

04/09/2023

Swift says its existing infrastructure can provide a single point of entry for FIs to move tokenised assets across blockchains.

MAS to Get New Managing Director, Menon to Step Down

04/09/2023

Ravi Menon will step down from his role as managing director of MAS and retire from public service on 1 January 2024.

Securities / Derivatives

CSRC Approves Fund Sales Licence for HSBC Subsidiary

04/09/2023

The HSBC subsidiary becomes the first wealth management firm to hold both an insurance brokerage and a fund sales licence in China.

Capital / Liquidity

Japan to Inject Public Funds into Regional Bank

04/09/2023

Kirayaka Bank will become the first regional bank in Japan to receive public funds since 2014.

AML / KYC

KoFIU Fines, Suspends Crypto Lender for AML Violations

04/09/2023

Crypto lender Delio failed to assess money laundering risks, had KYC lapses, and failed to restrict transactions with unregistered VASPs.

Securities / Derivatives

English Disclosure Still Inadequate in Japan Market: Survey

04/09/2023

The TSE said it plans to initiate discussions on measures that would make English disclosures mandatory for Prime Market companies.

AML / KYC

Malaysia: BNM Announces Penalties Against Ten Entities

04/09/2023

Seven entities within a group accepted deposits without a licence. Three other entities breached AML/CFT requirements.

Enforcement

Taiwan: Cathay Financial Units Fined for Connectivity Issues

04/09/2023

Cathay Securities and Cathay Futures failed to perform capacity tests and application system stress testing operations, the FSC said.