Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
AML / KYC
OFAC Blocks Secondary Market Trading in Russian Debt, Equity
12/06/2022
To date, only the purchase of new issues has been prohibited, and trading in secondary markets has still been allowed.
AML / KYC
BNM Directs Banks to Enhance Fraud Risk Controls
12/06/2022
BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.
Enforcement
US Ruling Calls Into Question Key SEC Enforcement Mechanism
12/06/2022
The Fifth Circuit court ruled that the SEC’s use of in-house administrative law judges deprived the petitioners of the right to a jury trial.
Securities / Derivatives
FSC Korea to Improve Fairness of Accounting Review Process
12/06/2022
The review period will be limited to one year in principle, with the possibility of a six-month extension, to prevent accounting reviews from being prolonged.
Enforcement
Singapore Police Arrest Eight Involved in SMS Phishing Scams
10/06/2022
The scammers were arrested after more than SGD 60,000 was lost in SMS phishing scams targeting DBS customers.
HKMA Invites Global Banks to November Summit in Hong Kong
10/06/2022
The two-day summit is reportedly aimed at reversing an exodus of financial talent from Hong Kong after more than two years of Covid-19 measures.
Market Infrastructure
FSB, IMF Conclude Second G20 Data Gaps Initiative
09/06/2022
A third data gaps initiative has been proposed, to address data gaps relating to climate change, fintech and financial inclusion, among other things.
Enforcement
ASIC Sues Payday Lender Over ‘Prohibited’ Fees
09/06/2022
The case involves over 670,000 contracts entered into by Sunshine Loans that included an amendment or rescheduling fee that is not permitted.
Crypto / Digital Assets
BOE Publishes Primer Explaining Plans for Possible CBDC
09/06/2022
The BOE will seek views from the public later this year about the possible issuance of a CBDC in the “second half of the decade” at the earliest.
Capital / Liquidity
RBI Issues Standard Asset Provisioning Rules for Large NBFCs
09/06/2022
The new provisioning rules are part of a new regulatory framework for NBFCs that takes effect on 1 October.
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