Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Fintech / Regtech
Thai SEC to Require Crypto Wallet Providers to be Licensed
06/12/2021
Custody and wallet providers required to obtain information identifying the account owners of wallets. New guidelines coming on the use of crypto in payments.
Securities / Derivatives
Citigroup Applies to CSRC for China Securities Licence
06/12/2021
Citigroup reportedly plans to also apply for a futures licence in China in the coming months.
Market Infrastructure
USD Cross-currency Derivatives to Use SOFR from 13 December
06/12/2021
Under part two of the second phase of SOFR First, interdealer brokers are asked to use SOFR instead of LIBOR in the USD leg of all newly-executed cross-currency derivatives.
Fintech / Regtech
HKMA Launches Enhanced Competency Framework on Fintech
06/12/2021
Banks are “strongly encouraged” to adopt the ECF-Fintech as part of their overall efforts to support the professional development of employees.
Market Infrastructure
FSB Reports Further Progress on OTC Derivatives Reforms
05/12/2021
15 out of 24 FSB member jurisdictions have implemented higher capital requirements for non-centrally cleared derivatives, compared to just 8 in 2020.
Securities / Derivatives
China Regulators Grow Increasingly Cautious of Quant Funds
05/12/2021
AMAC has reportedly closed a fast-track channel for quant fund managers, reflecting concerns that algo-based trading can increase volatility and unfairness in markets.
Enforcement
Hong Kong FRC Launches New Whistleblowing Policy
05/12/2021
Protecting whistleblowers’ identities will be the FRC’s highest priority. It will not share any personal information to outside parties unless it is “legally obliged to do so”.
AML / KYC
Interpol Concludes Global Operation Targeting Wildlife & Timber Crime
05/12/2021
Customs, police, FIUs and wildlife and forestry enforcement agencies in 118 countries participated in the operation, which has led to hundreds of arrests and over 1,000 seizures.
Securities / Derivatives
Thai SEC Seeks to Smooth Transition to Mandatory Pension
05/12/2021
The SEC proposes changes to reduce the chance of voluntary provident funds being dissolved or liquidated, which it says could impact THB 1.3 trillion in capital market investments.
Securities / Derivatives
SEBI Proposes to Ease Rules on Preferential Share Issuance
05/12/2021
The regulator proposes relaxed pricing norms, a shorter lock-in period, and to allow promoters to pledge shares for loans during the lock-in period.
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