AML / KYC

Ex-Goldman Exec Alleges BNM Was Involved in 1MDB Graft

24/02/2022

Tim Leissner said BNM approved a USD 1 billion overnight transfer out of 1MDB but that he could not independently verify whether a bribe was paid.

Enforcement

MAS Bans Former OCBC Representative for Five Years

24/02/2022

The former representative was convicted of forgery in the State Courts last year, leading MAS to believe she would not perform financial advisory services honestly.

ESG / Sustainability

HK FRC Establishes Sustainability & Climate Action Task Force

24/02/2022

The task force will provide high level recommendations on strategic actions the FRC should consider to promote sustainability reporting in Hong Kong.

Fintech / Regtech

KB Asset Management Unveils Plans to Launch Crypto Funds

24/02/2022

KB Asset Management is working towards launching a crypto ETF, a crypto-themed equity fund, and potentially a hybrid fund that includes crypto exposure.

Market Infrastructure

ANNA Confirms Timeline for Implementing Revised ISIN Standard

24/02/2022

A highlight of the revised ISO 6166 ISIN standard is the formal inclusion of LEI, CFI and FISN as part of the minimum data record.

Securities / Derivatives

SET Revises Rules to Encourage Listings by Foreign Firms

24/02/2022

Foreign companies will now only have to retain financial advisors for 1 year after listing and the quiet period of strategic shareholders has been shortened to 1.5 years.

Malaysia Announces New Programme to Boost MSME Funding

23/02/2022

Prime Minister Datuk Seri Ismail Sabri Yaakob said the programme include direct loans, financing guarantees and equity injections.

Fintech / Regtech

Korean Think Tank Classifies Some NFTs as Virtual Assets

23/02/2022

NFTs used in games and for payments can satisfy the definition of virtual assets and may be subject to AML obligations, the Korea Institute of Finance said.

Enforcement

Seoul Court Declares Lime Asset Management Bankrupt

23/02/2022

Investors lost an estimated KRW 1.7 trillion. Lime Asset Management has a reported KRW 520 billion in debt, compared to just KRW 19 billion in assets, which will be liquidated.