Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
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.
Securities / Derivatives
Australia to Commence Review of Managed Investment Schemes
13/03/2023
The review will consider enhancements to the MIS framework to identify gaps and reduce undue financial risk for investors.
Market Infrastructure
HK to Amend Clearing Rules to Account for IBOR Reforms
13/03/2023
Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.
Crypto / Digital Assets
FSB’s Eva Hupkes Discusses Crypto, Stablecoin and DeFi Regulation
13/03/2023
The FSB’s Eva Hupkes discusses the work underway to bring about globally harmonised regulatory frameworks for crypto assets, stablecoins, and DeFi.
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