AML / KYC

Anti Fraud: Korea Launches Bulk Account Suspension Service

04/01/2023

The new service allows financial consumers to suspend payments from all of their accounts at banks and non-banks at once.

Securities / Derivatives

SSE, SZSE Set Out Requirements for STAR Market, ChiNext Listings

04/01/2023

Sponsors must use the new regulations to determine whether issuers comply with the positioning requirements of each market.

Crypto / Digital Assets

US Banking Regulators Issue Statement Warning of Crypto Risks

04/01/2023

“It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the statement says.

Enforcement

CSRC Bars Two Online Brokers from Onboarding Mainland Investors

04/01/2023

Futu Holdings and Tiger Brokers have been offering offshore trading services to mainland clients though they are not licensed in China.

Market Infrastructure

CBIRC Proposes Stricter Rules for Banks’ Custody Businesses

04/01/2023

The draft rules strengthen requirements on internal governance, risk management systems, data protection and security controls within banks’ custody businesses.

Fintech / Regtech

BNM Finalises New Rules for Electronic Money Issuers

03/01/2023

E-money issuers with more than 500,000 active users are subject to stricter governance, business continuity management and technology risk management requirements.

Enforcement

US FTC Orders Mastercard to Stop Blocking Competing Networks

03/01/2023

The FTC says Mastercard used its control over its “tokenisation” process to block the use of competing payment card networks.

Securities / Derivatives

Korea Passes Bill to Ease Audit Burden on Smaller Companies

03/01/2023

The revision bill will benefit almost 1,000 listed companies, exempting them from a requirement to subject their internal accounting management systems to external audits.

Securities / Derivatives

CSRC Proposes Enhanced Rules for Stock Options Trading

03/01/2023

The rules allow futures companies to conduct market-making activities for stock options and require stock exchanges to supervise programmatic trading activities.