SAFE to Relax Threshold for Declaring Foreign Receipts, Payments

31/03/2022

SAFE proposes to increase the dollar threshold over which Chinese residents have to make declarations of their foreign receipts and payments.

Big Picture

FSB Publishes Work Programme for 2022

31/03/2022

Key focus areas include work to address Covid-19 scarring effects, enhance cross-border payments, and address financial risks from climate change.

Securities / Derivatives

SEBI Proposes to Shorten Timelines for Open Offers, Buybacks

31/03/2022

The proposed changes include a shorter time period during which an open offer or buyback offer can remain open, from 10 days to 5 days.

ASIC Finalises New Complaints Data Reporting Framework

31/03/2022

Under the framework, 11 large financial firms will be required to report internal dispute resolution data to ASIC for the first time by 28 February 2023.

Vietnam Considers Allowing Organisation to Lend Overseas

31/03/2022

Economic organisations will be allowed to provide offshore loans provided they comply with relevant laws and receive approval from the Prime Minister’s office.

Enforcement

Singapore Police, Banks Step Up Scam Intervention Efforts

31/03/2022

In a four-day operation last week, the police and five banks intervened in 150 scam cases, which resulted in the arrests of 35 individuals.

Capital / Liquidity

RBNZ Satisfied with ANZ NZ Governance Improvements

31/03/2022

ANZ has “invested heavily” in its director attestation framework remediation uplifted its overall governance capabilities.

Fintech / Regtech

Vietnam to Develop Legal Framework for Virtual Assets

31/03/2022

Vietnam’s prime minister has asked government ministries and the central bank to develop a legal and regulatory framework for virtual assets and electronic money.

Securities / Derivatives

MAS Publishes New Compliance Toolkit for CMS Licensees

31/03/2022

The toolkit is applicable to CMS licensees that deal in capital markets products, advise on corporate finance, or provide product financing, custodial services or credit rating services.