AML / KYC

Japan, Singapore to Explore Mutual Recognition of Digital Identity

14/06/2022

Mutual recognition of digital identity credentials is part of an agreement to cooperate on the digital transformation of government services.

Enforcement

Another Former CSRC Official Under Corruption Probe

14/06/2022

The probe is linked to another investigation involving an official who worked for the CSRC department that oversaw listings on the ChiNext board.

Capital / Liquidity

FSC Korea Outlines Measures to Boost Capital at Insurers

14/06/2022

Insurance companies have been experiencing declining levels of risk-based capital due to rising interest rates and mark-to-market losses on bond holdings.

Securities / Derivatives

China: Banks, Fund Managers Directed to Rein In Executive Pay

14/06/2022

Fund houses are required to defer a portion of executive bonus payments. Senior staff are directed to invest their bonuses in financial products issued by their companies.

Taiwan Lawmakers Call for Stronger Anti Fraud Rules

14/06/2022

One lawmaker said the rules should be changed to make banks bear some responsibility for protecting customers from fraud while using their services.

Securities / Derivatives

CSRC Orders Six Brokerage Firms to Correct Violations

14/06/2022

The CSRC has issued warning letters to six securities companies, ordering them to correct violations involving their overseas subsidaries.

Market Infrastructure

HKMA Chief Outlines Plans to Enhance CMU Services

13/06/2022

The Central Moneymarkets Unit will be further commercialised and upgraded in phases over three years. A new platform will be launched in 2025.

Market Infrastructure

HKEX Launches VaR Platform for Clearing Participants

13/06/2022

The new platform introduces margin requirements based on individual stock volatility, instead of a flat margin rate across all securities.

ESG / Sustainability

UK, Japan Formalise Arrangements on Regulatory Cooperation

13/06/2022

UK and Japan participants agreed to establish an innovation working group to provide a space for collaboration on payments, cryptoassets and financial innovation.