Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Chinese Police Summon Alibaba Staff to Probe Data Breach
18/07/2022
Personal information on 1 billion Chinese citizens was reportedly stolen from a Shanghai police database located on an Alibaba server.
Market Infrastructure
HKEX, SFC Extend HKIDR Testing Period Until 5 August
18/07/2022
Firms that have not completed the mandatory E2E Test yet are reminded to complete the test “as soon as possible”.
Uncategorised
Hong Kong’s Target Insurance Deemed Insolvent, Winding-up Initiated
18/07/2022
Target is Hong Kong’s largest motor insurer, providing coverage for mini buses and more than 60 percent of the 18,000-plus taxis in the city.
Capital / Liquidity
Pakistan Sets January 2023 Deadline for IFRS 9 Adoption
18/07/2022
IFRS 9 will prompt a one-off increase in banks’ loan-loss provisioning, diminishing shareholder capital. Banks will also be pressured by increased taxes.
AML / KYC
Sanctions Over-Compliance Causes Human Rights Violations: UN Expert
18/07/2022
UN Special Rapporteur Alena Douhan says governments and FIs should be doing more to ensure over-compliance with sanctions does not negatively impact human rights.
CBIRC Calls on Banks to Help Resolve Mortgage Boycotts
18/07/2022
Hundreds of thousands of homebuyers stopped making payments on mortgages involving more than 200 property projects last week.
Crypto / Digital Assets
UK Commences Inquiry Into Crypto Asset Risks and Opportunities
17/07/2022
A UK parliamentary committee is collecting evidence on the opportunities and risks that crypto-assets may bring to consumers, businesses and the government.
Securities / Derivatives
Malaysia and Shanghai to Collaborate on Derivatives Products
17/07/2022
Bursa Malaysia Derivatives will work with SHFE and INE on the development of new derivatives products to meet the needs of increasingly sophisticated customers.
Securities / Derivatives
Korea Extends Corporate Debt Purchase Programmes to March 2023
17/07/2022
Policy banks will have KRW 6 trillion until 30 March 2023 to buy up corporate bonds and commercial paper.
Crypto / Digital Assets
US Treasury Consults on Digital Asset Risks and Opportunities
17/07/2022
The request for comment seeks input on the opportunities and risks digital assets may pose to consumers, investors, businesses, and financial markets.
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