Fintech / Regtech

MAS, IFSCA Sign FinTech Cooperation Agreement

20/09/2022

MAS and IFSCA will collaborate to support sandbox experimentation, enable companies to be referred to each other’s sandbox, and promote cross-border testing.

AML / KYC

US Treasury Seeks Input on Illicit Finance Risks in Crypto

19/09/2022

The RFC calls for input on how to prevent crypto from being used for illicit finance, including through analytics tools and AML/CFT regulations.

Securities / Derivatives

CFTC Issues No-Action Letter to TAIFEX on Swaps Clearing

19/09/2022

The no-action letter will facilitate access for US persons to swaps clearing in Taiwan while TAIFEX’s application for an exemption from DCO registration is pending.

Fintech / Regtech

FSTB, SFC Declare Support for STO Business in Hong Kong

19/09/2022

The SFC’s Elizabeth Wong said firms that are interested in STOs are encouraged to discuss their proposals with the regulator’s Fintech unit.

Capital / Liquidity

Basel III to Have Muted Capital Impact in APAC: Fitch

19/09/2022

The impact of the final rules will be much lower in APAC than in Europe and the US because APAC jurisdictions rely less on internal models, Fitch says.

Crypto / Digital Assets

CyberSecurity Malaysia, MX Global Partner on Digital Assets

19/09/2022

The collaboration includes research and development, joint solution development, and cyber risk training and awareness programmes.

ESG / Sustainability

Taipei Exchange Lists First Two Sustainability-linked Bonds

19/09/2022

Taiwanese conglomerate Far East New Century and chemicals company Chi Mei Corp issued TPEx’s first two sustainability-linked bonds on Wednesday.

BNM Approves UOB Acquisition of Citi’s Malaysia Business

19/09/2022

UOB subsidiaries reached agreements in January to acquire Citigroup’s consumer banking businesses in Malaysia, Indonesia, Thailand and Vietnam.

Enforcement

Bank of East Asia Exec Detained in China for Taking Bribes

19/09/2022

The executive is accused of breaching credit rules and issuing loans in exchange for bribes. It is uncommon for executives of overseas banks to be detained in China.