Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Fintech / Regtech
ASIFMA Asks for Changes to SEBI Cloud Adoption Framework
19/12/2022
ASIFMA says the data localisation requirements in SEBI’s new cloud adoption framework will expose FIs to greater cybersecurity risks while negatively impacting global operations.
Market Infrastructure
EU Council Agrees to Implement Global Minimum Tax
19/12/2022
The 15% corporate minimum tax rate is expected to be transposed into EU wide rules by end-2023 and prompt other countries to speed up efforts to implement the measure.
ESG / Sustainability
Malaysia Publishes ‘Climate Data Catalogue’, Identifies Data Gaps
19/12/2022
Malaysia’s JC3 says the data catalogue “represents a call to action” for stakeholders to collectively improve the availability and accessibility of climate data.
Korea to Lower Maximum Corporate Tax Rate Under Reform Plan
19/12/2022
Korea plans to lower its maximum corporate tax rate from 25% to 22% to promote investment and enhance the country’s competitiveness.
Securities / Derivatives
Singapore to Amend Law to Allow for Online General Meetings
19/12/2022
Orders introduced early in the pandemic to allow companies to conduct general meetings by electronic means will expire on 1 July 2023.
Sanctions
US, EU Announce Additional Sanctions Against Russia
19/12/2022
The US imposed new sanctions against Russian FIs and the country’s richest businessmen. The European Council adopted a ninth sanctions package against Russia.
AML / KYC
AUSTRAC Issues Guidance on Detecting OSEC Crime
19/12/2022
AUSTRAC has updated its 2019 indicators report to help FIs identify behaviours and transactions which may indicate payments for child sexual exploitation material.
Securities / Derivatives
HKEX Proposes to Further Expand Paperless Listing Regime
19/12/2022
Paperless initiatives announced since 2020 have improved efficiency and lowered costs for issuers, HKEX says, proposing changes to further simplify its administrative procedures.
Sanctions
US Adds Chinese Chipmakers, AI Firms to Trade Blacklist
19/12/2022
The move builds on new export controls announced in October, which were designed to prevent the transfer of advanced technology to China’s military, intelligence and security services.
Securities / Derivatives
ICE Opens Access Centres in Hong Kong, Shanghai, Tokyo
18/12/2022
ICE says the enhanced connectivity includes ultra-low-latency access to exchanges in Hong Kong, Shanghai and Tokyo.
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