Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
AML / KYC
EU to Sanction Iran Over Drone Sales to Russia
20/10/2022
The EU has just imposed sanctions over the way protests in Iran are being handled. The drone transfers to Russia are considered a violation of a UNSC resolution.
Australia: Industry Body Launches BNPL Code Review
19/10/2022
The review was launched six months early in response to feedback from stakeholders. The findings are due to be reported by 1 March 2023.
Korea Warns Against Direct FX Transactions Between Individuals
19/10/2022
Any foreign currency transactions worth more than KRW 5,000 has to be reported to the central bank, or face penalties for violating Korea’s foreign exchange laws.
AML / KYC
Philippines to Curb Scams by Requiring ID Registration for SIM Cards
19/10/2022
Telcos are required to collect customer ID information when selling SIM cards. The law is aimed at curbing the spread of spam text messages and scams.
Fintech / Regtech
India Launches Digital Banking Units to Advance Financial Inclusion
19/10/2022
The units were established by 24 banks to house digital infrastructure for the delivery of digital banking products and services in self-service and assisted mode.
Securities / Derivatives
Malaysia SC Signs Regional MMoU on Supervisory Cooperation
19/10/2022
Malaysia’s SC now has a cooperative arrangement on supervisory matters with regional counterparts in Australia, Hong Kong, Japan, Singapore and Thailand.
Crypto / Digital Assets
US Regulators Probe Failed Crypto Firm Three Arrows Capital
19/10/2022
The SEC and CFTC are reportedly looking into whether Three Arrows misled investors and violated rules by not registering its business.
Market Infrastructure
South Korea Scraps Foreigner Tax on Government Bond Income
19/10/2022
The government was planning to waive the tax for non-residents and foreign corporations in January but decided to bring the measure forward.
Securities / Derivatives
CBIRC Approves BNP-AgBank Wealth Management JV
19/10/2022
BNP’s asset management arm will own 51 percent stake in the venture while Agricultural Bank of China’s wealth management unit owns the rest.
Fintech / Regtech
Kakao Under Probe Over Unprecedented Service Disruption
19/10/2022
A fire occurred at a data centre where Kakao operates 32,000 servers that support the vast majority of its mobile services.
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