Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Converting Property Loans to Business Loans is Illegal, CBIRC Warns
27/12/2022
Some “unscrupulous intermediaries” have been advertising and promoting “illegal” loan conversion as a way to reduce interest costs.
ESG / Sustainability
NYDFS Proposes Guidance on Climate Risk Management
27/12/2022
The guidance focuses on corporate governance; internal control framework; risk management process; data aggregation and reporting; and scenario analysis.
Fintech / Regtech
EU Commission Approves Pilot Use Cases for Digital ID Wallet
27/12/2022
The approved pilots cover payments, travel, and business compatibility. The EU Digital Identity Wallet is expected to go live in 2024.
BOE Proposes to Remove Cap on Bankers Bonuses
27/12/2022
Removing the cap will increase the proportion of compensation that can be set by tools such as deferral, payments in instruments, and risk adjustment.
ESG / Sustainability
RBI Official Calls for Structural Changes to Scale Up Green Finance
27/12/2022
Deputy governor M Rajeshwar Rao said a formal definition of green finance and a taxonomy are needed, along with a robust ecosystem for third-party verification and assurance.
Crypto / Digital Assets
Insurers Are Denying Coverage to Crypto Firms Linked to FTX
27/12/2022
When coverage is provided, it is becoming more pricey and contains broad policy exclusions that would deny any FTX-related claims.
Securities / Derivatives
Shanghai Bourse Opens New Portal to Facilitate New Listings
27/12/2022
The new portal provides inquiry services, listing assessment services, policy regulatory and information, and training for companies seeking an IPO.
Securities / Derivatives
Thai SEC Launches New Mutual Fund Comparison Tool
27/12/2022
The SEC began developing the “SEC Fund Check” application in Q2 2019. A separate application called “SEC Bond Check” is also under development.
Crypto / Digital Assets
HK Police Arrest Two Men Over Halted Crypto Exchange AAX
26/12/2022
Police say the two men falsely claimed AAX was undergoing “scheduled maintenance” to suspend user withdrawals. A third individual is said to be on the run.
Fintech / Regtech
APRA Grants Full ADI Licence to Alex Bank
26/12/2022
The full ADI licence was granted 18 months after Alex Bank received its restricted ADI licence in July 2021.
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