Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Myanmar Bans Use of Foreign Currency for Local Payments
30/05/2022
The central bank said the use of foreign currencies in domestic payments could lead to higher demand for dollars and cause exchange rate instability.
Enforcement
China Faces Protests in Henan Over Suspected Rural Bank Scams
30/05/2022
Bank customers in Henan province are demanding the return of billions of dollars of deposits after finding they were unable to withdraw their funds.
ESG / Sustainability
Australia to Start Work on Sustainable Finance Taxonomy in July
30/05/2022
The Australian Sustainable Finance Institute is seeking proposals from consultants who can work with it on the first phase of its taxonomy project.
Crypto / Digital Assets
Crypto Ads to be Screened in the Philippines from 7 July
29/05/2022
Firms advertising crypto services to Philippine users will have to provide proof they have registered with the SEC as companies and with BSP as remittance and transfer providers.
Crypto / Digital Assets
Thailand Formalises VAT Exemption for Crypto Transactions
29/05/2022
Thailand’s Cabinet approved the measure in March. The decree formalises the VAT exemption retroactively from 1 April 2022, keeping it in place until 31 December 2023.
Securities / Derivatives
Vietnam Dismisses Securities Officials Amid Corruption Concerns
29/05/2022
The heads of the State Securities Commission and Ho Chi Minh Stock Exchange have been dismissed. Several others have been reprimanded.
Securities / Derivatives
HKMA Directs Banks to Comply with New Rules for Trust Business
29/05/2022
Banks and their subsidiaries have until 1 June 2023 to comply with new regulatory requirements for their trust business and related activities.
Enforcement
SEBI Raids Brokers in Axis Fund Front-running Probe
29/05/2022
Fund managers of Axis Mutual Fund shared trade information with outside brokers and other entities who traded on the information ahead of Axis funds.
Market Infrastructure
HKEX to Launch New IPO Settlement Platform in June 2023
29/05/2022
HKEX will host technical workshops and demonstration sessions in the coming months, and commence FINI user registration and on-boarding in Q4 2022.
NZ FMA Issues Record-keeping Guidance for Advice Firms
29/05/2022
The FMA says a robust record keeping practice will enhance confidence in a financial advice provider’s compliance framework.
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