Singapore Raises ABSD Stamp Duties to Cool Property Market

28/04/2023

Foreigners buying any residential property in Singapore will see the Additional Buyer’s Stamp Duty double.

AML / KYC

FATF Publishes Mutual Evaluation Report on Indonesia

28/04/2023

Indonesia has a strong AML/CFT framework but needs to address risks in some sectors and improve investigation and prosecution. Foresty crime and terrorism financing are some of the country’s key risks.

Fintech / Regtech

Japan: Reforms Needed to Boost Digital Green Bond Market

28/04/2023

Expert panel finds that the technology used in JPX’s digitally tracked green bond has other applications, but some challenges need to be addressed first.

Market Infrastructure

Firms Must Continue to Act to Ensure Orderly LIBOR Transition: FSB

28/04/2023

A “pile-up” towards end-June 2023 that could introduce operational risks and wider market disruption, the FSB said.

Fintech / Regtech

Thailand to Defer Publication of Virtual Banks Framework

28/04/2023

The BOT said it received “helpful” consultative feedback and now needs more time to clarify the licensing conditions and produce an application manual.

ESG / Sustainability

SFC Commits to Reaching Carbon Neutrality by 2050

27/04/2023

The SFC will make periodic disclosures on the status of its carbon reduction efforts and progress towards meeting its climate targets, said CEO Julia Leung.

Securities / Derivatives

Boards Should Take Requisitions Seriously: SGX RegCo

27/04/2023

While requisitions may be unwelcome, boards should consider their merits and engage with the requisitionists to find common ground.

AML / KYC

UK Convicts Cash Couriers for Laundering Over $130m

27/04/2023

The couriers smuggled money from the UK to Dubai using vacuum-packed suitcases sprayed with coffee or air fresheners to evade detection.

Market Infrastructure

RBI Eases Restrictions on Funds Held in GIFT City by Indians

27/04/2023

The RBI removed a requirement for Indian residents to repatriate funds that lie idle for 15 days in GIFT City bank accounts. Restrictions on interest-bearing accounts also relaxed.