MAS Reappoints Ravi Menon as Head for Two More Years

14/05/2023

Menon will serve as Managing Director until 31 May 2025 or his retirement from the Singapore Public Service, whichever is earlier.

Capital / Liquidity

Hong Kong Roundtable: Bankers Explore Evolving Risk Landscape

14/05/2023

Regulation Asia and Wolters Kluwer held a roundtable with Hong Kong bankers to discuss the evolving risk landscape in the city.

AML / KYC

Philippine AMLC Issues New Sanctions Screening Guidance

13/05/2023

An AMLC review found deficiencies including excessive manual processes, high false positives, and a lack of understanding of how sanctions screening systems operate.

Capital / Liquidity

California Regulator Concludes Reviews into SVB Failure

13/05/2023

In the years leading up to SVB’s failure, DPFI identified deficiencies at the bank, but “did not take adequate steps” to ensure they were resolved quickly.

Fintech / Regtech

Key Committees in EU Parliament Vote to Adopt “AI Act”

13/05/2023

The rules are aimed at supporting AI innovation while also protecting rights, strengthening oversight, and ensuring mature governance and enforcement.

Crypto / Digital Assets

Jane Street, Jump Crypto to Scale Down US Crypto Business

13/05/2023

Jane Street Group and Jump Crypto are the latest firms to scale down US operations, citing regulatory uncertainty.

NYDFS Proposes Guidance on ‘Character and Fitness’ Reviews

13/05/2023

Superintendent Adrienne Harris said character and fitness standards have become a “policy priority” in light of “recent events” in the industry.

EU Backtracks on Financial Advice Inducement Ban – Report

13/05/2023

The new plan is to limit the proposed ban on inducement payments to “execution-only” sales of investment products where no financial advice is delivered.

Crypto / Digital Assets

StanChart to Launch Digital Asset Custody Services from Dubai

13/05/2023

The UAE has a “well-balanced approach” to digital assets, making it an “ideal first market” for the launch, said CEO Bill Winters.