Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Enforcement
UK Regulator Accuses HSBC of Greenwashing Through Advertising
04/05/2022
The UK’s advertising watchdog says HSBC misled customers by selectively promoting its green initiatives without mentioning its continued financing of fossil fuel businesses.
Fintech / Regtech
India’s GIFT City to Introduce Fintech Regulatory Sandbox
04/05/2022
The dedicated regulatory sandbox is part of government efforts to establish GIFT City as ‘world class’ fintech hub.
Market Infrastructure
US, Europe to Pilot Real-time Cross-border Payments This Year
03/05/2022
The IXB pilot service will initially support instant payments in the USD-EUR corridor, with a full-service offering expected in 2023.
Securities / Derivatives
China, US Discuss Logistics of Cross-border Audit Inspections
03/05/2022
Regulators are discussing the logistical and operational details for a new mechanism that will enable the PCAOB to visit China for audit inspections.
Capital / Liquidity
PBOC, CBIRC Issue Rules to Improve G-SIB Loss-absorbing Capacity
03/05/2022
The notice is aimed at facilitating the issuance of non-capital bonds with loss-absorbing capacity by Chinese D-SIBs.
AML / KYC
Korean Police Arrest Woori Employee for Embezzlement
03/05/2022
The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.
Securities / Derivatives
Taiwan FSC Allows Cross-institutional Data Sharing
03/05/2022
Information sharing will be allowed between FIs that do not have group relations, provided that the data sharing model is first reviewed and approved by the FSC.
AML / KYC
Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services
02/05/2022
MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.
PBOC Announces Launch of Two New Re-lending Facilities
02/05/2022
The PBOC will provide banks low cost funds which they can use to support innovative technology companies and institutions providing elderly care services.
AML / KYC
German Authorities Raid Deutsche Bank in Money Laundering Probe
02/05/2022
The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.
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