Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Market Infrastructure
Cuban Banks Have Adopted Russia’s Mir Card Scheme
14/03/2023
ATMs now display the logo of the Mir payment system and provide an option to withdraw funds in Cuban pesos from cards issued by Russian banks.
Crypto / Digital Assets
NAB Completes First Cross-border Stablecoin Transaction
14/03/2023
NAB expects to be supporting select corporate and institutional clients to transact using digital assets by the end of 2023.
ESG / Sustainability
Record Number of FIs Seeking Environmental Disclosures Via CDP
14/03/2023
CDP’s annual disclosure request this year is on behalf of 746 FIs across 40 countries. Firms are asked to disclose on plastics for the first time.
Fintech / Regtech
Chinese Bourses Look to Tech to Combat Fraud in Markets
13/03/2023
The SZSE has been testing technology from an analytics firm to detect fraud and vet listings, while the SSE is proposing the use of big data and AI.
Enforcement
FSC Korea Uses Enhanced Penalties Regime for the First Time
13/03/2023
Two firms were fined a combined KRW 5.05 billion (USD 3.9 million) for naked short selling. The names of the firms were not released.
AML / KYC
AUSTRAC Launches Specialist AML Unit for Gambling Sector
13/03/2023
AUSTRAC reportedly warned gambling industry officials it had “identified serious non-compliance in a number of businesses”.
Crypto / Digital Assets
Korea to Creates Fund to Drive Metaverse Related Initiatives
13/03/2023
The government is inviting investment management companies to help operate the Metaverse Fund, offering special performance incentives.
AML / KYC
FATF Finalises Revisions to Recommendation 24 Guidance
13/03/2023
The guidance will assist policymakers and practitioners to prevent bad actors from using shell companies for illicit activity.
AML / KYC
Former Malaysian PM Muhyiddin Charged With Corruption
13/03/2023
Former prime minister Muhyiddin Yassin was charged with four counts of abuse of power and three counts of money laundering.
Enforcement
Australian Court Fines ANZ Over Introducer Programme
13/03/2023
ANZ received sensitive information or documents about borrowers from unlicenced third parties through its introducer programme.
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