Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Capital / Liquidity
Hong Kong to Introduce Risk-based Capital Regime for Insurers
11/04/2023
An amendment bill was gazetted that will make capital requirements for insurance companies more sensitive to their asset and liability matching, risk profile and mix of products.
Enforcement
US State Regulators Fine Robinhood for Causing Investor Harm
11/04/2023
Robinhood disseminated inaccurate information to customers and did not have a reasonably designed customer identification programme, among other failures.
AML / KYC
UK FCA Outlines Next One Year of Work to Improve Markets
11/04/2023
The FCA will propose reforms to the listing regime, consult on the introduction of consolidated tapes, and strengthen its authorisation and assessment processes.
Crypto / Digital Assets
OKX’s Ben Bowden Discusses Regulatory Response to FTX Fallout
10/04/2023
Ben Bowden, Global Head of Compliance at OKX, discusses the fallout from FTX, crypto regulatory approaches, and the role of proof of reserves.
ESG / Sustainability
Korea Establishes ‘Capital Market ESG Supervision Task Force’
10/04/2023
The task force will develop ESG fund disclosure standards to address information asymmetry, prevent greenwashing and promote responsible management.
Fintech / Regtech
Taiwan Internet-only Insurance Applicants Fail to Win Approval
10/04/2023
Formosa Property Insurance was rejected in December. CTBC Insurance was not sufficiently innovative or differentiated from other existing products.
Crypto / Digital Assets
Cake Defi’s Henry Loh Discusses Credit Risk & Trust in Crypto
10/04/2023
Cake DeFi’s Henry Loh discusses the importance of credit risk management and clearer regulatory guidance to promote trust in the crypto sector.
Crypto / Digital Assets
Singapore to Set Crypto Client Onboarding Standards for Banks
10/04/2023
The “industry-driven project” has been ongoing for about six months, with participation from MAS and Police in a banks-led working group.
Fintech / Regtech
ACCC Warns of Penalties for Poor Quality Open Banking Data
10/04/2023
Enforcement efforts will be focused on issues involving the quality of product reference data such as incorrect interest rates and missing data.
ESG / Sustainability
BNM, SC to Engage Energy Sector on ASEAN Taxonomy Readiness
10/04/2023
Consultations with the energy sector will be used to finalise Version 2 of the ASEAN Taxonomy, which is set to take effect in early 2024.
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