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
Securities / Derivatives
Korea: New Rules for CFD Trading to Take Effect from 1 Sept
20/07/2023
Securities firms that conduct CFD trading and brokerage business must submit investor balances to KOFIA on a daily basis.
AML / KYC
US Fed Fines Deutsche Bank for Slow Remediation of AML Deficiencies
20/07/2023
The Fed Board said Deutsche Bank made “insufficient remedial progress” under 2015 and 2017 consent orders and still has deficient AML internal controls and governance processes.
Enforcement
MAS Issues Five Year Ban on Former Prudential Representative
20/07/2023
The former representative edited and submitted 11 false invoices to Prudential and deceived the company into making payouts to her clients.
Capital / Liquidity
Deposit Caps Raised for Singapore Digital Banks GXS, Maribank
19/07/2023
Grab’s GXS Bank and Sea’s Maribank have both increased the maximum deposit allowed in savings accounts from S$5,000 to S$75,000.
ESG / Sustainability
CFTC Meets to Discuss Integrity in Voluntary Carbon Markets
19/07/2023
The CFTC held its second Voluntary Carbon Markets Convening to identify steps to ensure integrity and resilience of voluntary carbon markets.
Fintech / Regtech
Chinese Authorities Release New Rules for Providers of Generative AI Services
19/07/2023
The rules require training data to be accurate, generated content to be properly labelled, security assessments to be performed, and channels for complaints reporting to be established.
Enforcement
Deloitte Australia’s CEO Admits to Being Overpaid in Public Hearing
19/07/2023
Deloitte Australia’s CEO Adam Powick told a Senate committee his position is not worth a salary that is seven times that of the prime minister’s.
AML / KYC
NAB Blocks Payments to “High-risk” Cryptocurrency Platforms
18/07/2023
NAB will initially block “several” cryptocurrency exchanges that it has concerns with, but this could be expanded further in future.
Enforcement
Singapore Imposes Record 19-Year Jail Term on Former Lawyer
18/07/2023
The case involves the misappropriation of S$76mn in clients’ funds over three years by the former lawyer, previously the managing partner of JLC Advisors LLP.
Philippines: Bill to Establish Sovereign Wealth Fund Becomes Law
18/07/2023
The Maharlika Investment Fund still faces criticism amid expectations that it will propel economic growth and help attract foreign investors.
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