Editors

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    Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com

    Articles by Editors

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    Capital / Liquidity

    Hong Kong Financial System Remains Resilient: IMF Staff

    07/05/2023

    IMF staff said credit risk will “likely continue to materialise”, and banks should properly recognise and provision for credit losses, including those from Mainland property exposures.

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    Securities / Derivatives

    China: AMAC Proposes Additional Requirements for Private Securities Funds

    07/05/2023

    PE funds must have at least 10mn yuan under management to remain in operation. Firms with more than 2bn yuan under management will have to undergo regular stress tests.

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    ESG / Sustainability

    LMA Publishes Model Provisions for Sustainability-linked Loans

    07/05/2023

    The model provisions provide a basic drafting framework to assist parties in the negotiation of documentation for sustainability-linked loans.

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    Enforcement

    NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

    07/05/2023

    BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.

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    Enforcement

    India Supreme Court Allows Prosecution of Deloitte, KPMG Units

    07/05/2023

    Supreme Court ruling allows criminal complaints against Deloitte Haskins & Sells and BSR & Associates over their handling of IL&FS audits to proceed.

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    Enforcement

    FSS Korea Uncovers First “Malicious” Cases of Naked Short Selling

    06/05/2023

    The FSS uncovered cases where market participants deliberately short-sold securities without first borrowing the stock in a bid to “maximise trading profits”.

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    Market Infrastructure

    Regulators Announce 15 May Launch Date for Swap Connect

    06/05/2023

    Swap Connect will allow overseas investors to trade in Mainland interest rate swap contracts on CFETS via Tradeweb and Bloomberg.

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    AML / KYC

    India Amends Laws Governing Accountants, Company Secretaries

    05/05/2023

    Chartered accountants, company secretaries, and cost and work accountants will have to maintain records of all financial transactions for clients.

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    Enforcement

    MAS Imposes Additional Capital Surcharge on DBS for Outages

    05/05/2023

    A new disruption on 5 May prevented users from accessing digital banking, mobile wallet, brokerage, and ATM services.

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    Enforcement

    Ex-OpenSea Manager Convicted for NFT Insider Trading Scheme

    05/05/2023

    Nathaniel Chastain chose which NFTs to feature on OpenSea’s home page and then covertly traded those NFTs, altogether making about $57,000 in profits.

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