HKMA Raises Bar on Banks’ Complaints Handling Protocols

08/01/2023

Banks are expected to proactively make use of alternate dispute resolution channels when complaints cannot be resolved through their internal mechanisms.

Sanctions

Taiwan Expands Export Controls Against Russia, Belarus

08/01/2023

The export controls are aimed at preventing Taiwan’s high-tech products from being used for military purposes.

Securities / Derivatives

China, Philippines Pledge to Enhance Market Connectivity

08/01/2023

The SZSE and PSE will pursue market connectivity through the development of cross-border products and cooperation on index compilation.

Enforcement

Singapore: Youth Pleads Guilty Over OCBC Phishing Scams

08/01/2023

The 19-year-old is the second Singaporean youth to plead guilty for helping an overseas syndicate launder the proceeds from phishing scams against OCBC customers.

Securities / Derivatives

China Consults on Company Law Revisions to Improve Governance

08/01/2023

The revisions impose stronger corporate social responsibility obligations and require shareholders to make capital contributions if a company cannot repay its debts.

AML / KYC

India: KYC Becomes Mandatory for All Insurance Policies

08/01/2023

KYC documents have to date not been mandatory for non-life or general insurance policies at the time of purchase.

Crypto / Digital Assets

UK Adds Cryptoassets to Investment Manager Exemption

08/01/2023

Global investors using UK investment managers will not be subject to UK tax if they include cryptoassets within their portfolios.

Taiwan FSC to Propose New Regulations for BNPL Sector

08/01/2023

Lawmakers are concerned that the growth of the BNPL sector could lead to a crisis similar to the 2005/2006 credit card crisis in Taiwan.

Securities / Derivatives

First Bangladesh ETFs Secure Regulatory Approval – Report

07/01/2023

The ETFs will be actively managed, one by LankaBangla Asset Management and the other by Frontier Asset Management.