Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Capital / Liquidity
Standard Setters Publish Review of Global Margining Practices
30/09/2022
Market volatility and model reactions to volatility were responsible for the majority of the peak increase in IM requirements in March and April 2020.
Capital / Liquidity
HKMA Consults on Pillar 3 Disclosure Requirements for Basel III
30/09/2022
Following consultation, the HKMA plans to submit revisions to the disclosure requirements in early 2023, ahead of Basel III implementation on 1 July 2023.
AML / KYC
Turkish Banks to Stop Using Russia’s Mir Payment System
30/09/2022
Three Turkish state banks will stop using the Mir system in response to guidance issued by OFAC earlier this month. Two others stopped last week.
AML / KYC
US SEC Penalises Oracle for FCPA Violations by Foreign Subsidiaries
30/09/2022
Oracle subsidiaries in Turkey, the UAE, and India used slush funds to bribe foreign officials in return for business between 2016 and 2019.
Crypto / Digital Assets
BIS Innovation Hub Nordic Centre Launches Retail CBDC Project
30/09/2022
The central banks of Israel, Norway and Sweden will develop a “hub” to which they will connect their domestic proof-of-concept CBDC systems.
Fintech / Regtech
Australia Proposes Framework to Enable CDR ‘Action Initiation’
30/09/2022
Consumers would be able to instruct businesses to make payments, open and close accounts, switch providers, and update personal details on their behalf.
Securities / Derivatives
FMSB, ASIC Agree to Jointly Promote Financial Market Integrity
29/09/2022
The FMSB will consult with ASIC on its annual strategy refresh and provide details about forthcoming drafts of proposed standards, statements of good practice and other publications.
Enforcement
SFC Suspends Hedge Fund Manager for Two Years
29/09/2022
The hedge fund manager used non-public information from a market sounding call to trade short swaps on a KRX-listed stock.
Securities / Derivatives
Korea Takes Emergency Measures to Stabilise Markets, Currency
29/09/2022
MOEF and BOK are buying government bonds to lower yields, and the FSC is preparing to reactivate a stock market stabilisation fund created during the Covid-19 pandemic.
AML / KYC
Japan to Adopt Travel Rule in Crypto in May 2023 – Report
29/09/2022
The FSA plans to submit amendments to the Act on Prevention of Transfer of Criminal Proceeds to a parliamentary session next week.
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