China Allows Firms to Defer Housing Fund Contributions

30/05/2022

Companies affected by the pandemic can postpone payments of housing provident fund contributions for employees.

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.