Capital / Liquidity

Philippines to Assess Financial Conglomerate Risks in October

06/09/2022

The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.

Securities / Derivatives

SFC Suspends Rifa Futures Exec Over ‘Xinguanjia’ Trading Software

06/09/2022

In July, Rifa Futures became the fourth firm to be fined over the use of Xinguanjia. The firm’s managing director has now been suspended for 8 months.

Securities / Derivatives

ASIC Extends Ban on Binary Options Until 2031

06/09/2022

Since it came into effect, the ban has been “fully effective” in preventing retail clients from losing money trading binary options in Australia, ASIC said.

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.