AML / KYC

BSP Rolls Out New Cyber Risk Management Software at FIs

06/09/2022

The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.

Securities / Derivatives

Japan FSA Consults on Documentary Requirements for Foreign Entry

06/09/2022

The amendment will allow applicants who meet certain conditions to submit written applications for registration and other subsequent documents in English.

AML / KYC

Gold Producer Becomes Second Russian Firm to Issue CNY Bonds

05/09/2022

Russia is now in third place on a list of non-mainland jurisdictions using the yuan for global payments, after Hong Kong and the UK.

Crypto / Digital Assets

Korea’s Busan City Forms Partnerships with FTX, Binance

05/09/2022

FTX will assist in the establishment of the Busan Digital Asset Exchange. Both FTX and Binance will support the development of Busan’s local blockchain industry.

Capital / Liquidity

PBOC Cuts FX Reserve Requirement for Banks as Yuan Falls

05/09/2022

The cut will add about increase foreign currency liquidity, make it more appealing for traders to buy the yuan, and support the economic recovery.

Enforcement

Thai SEC Penalises Bitkub CTO for Insider Trading Violations

05/09/2022

Bitkub’s CTO bought the company’s own digital token, KUB Coin, based on inside information about a proposed acquisition by Siam Commercial Bank.

Crypto / Digital Assets

India: Four Public Sector Banks to Run CBDC Pilot

05/09/2022

The RBI has reportedly asked State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda to run a CBDC pilot internally.

Enforcement

Korean Authorities Arrest 16 Over Illegal FX Transactions

05/09/2022

In some cases, funds were remitted overseas via commercial banks, disguised as payments for trade businesses to exploit the “Kimchi premium”.

Hong Kong Targets Removal of Hotel Quarantine Requirement

05/09/2022

Chief Executive John Lee is leaning towards scrapping hotel quarantine before a November summit of global bankers and the Hong Kong Rugby Sevens tournament.