AML / KYC

New Sanctions Imposed Against Myanmar Officials

04/02/2022

US and Singapore officials have reportedly met to discuss ways to limit Myanmar’s military from accessing financial assets overseas.

Market Infrastructure

Philippines to Enhance Supervision of Financial Conglomerates

04/02/2022

The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.

Securities / Derivatives

ASX Proposes Rule Changes to Facilitate CCIV Sub-fund Listings

04/02/2022

The changes will also facilitate the listing of foreign passport funds under the ARFP regime, and recognised managed investment schemes from New Zealand.

Fintech / Regtech

IMF Urges El Salvador to Remove Bitcoin’s Legal Tender Status

03/02/2022

The IMF said the adoption of a cryptocurrency as legal tender entails “large risks” relating to financial stability, financial integrity, and consumer protection.

Enforcement

Philippines Passes New Financial Consumer Protection Act

02/02/2022

The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.

Securities / Derivatives

CSRC Offers Reassurances to Foreign Institutional Investors – Report

02/02/2022

CSRC vice chairman Fang Xinghai told global banks and asset managers to expect a “positive surprise” on Sino-US capital markets cooperation by June.

Securities / Derivatives

Japan FTC Warns of Possible Antitrust Breaches in IPO Pricing

02/02/2022

The FTC expressed concerns that securities firms could use their superior bargaining power to set IPO prices excessively low and disadvantage issuers.

Market Infrastructure

SEBI Temporarily Suspends Overseas Investments by Mutual Funds

02/02/2022

The mutual fund industry is reportedly close to breaching a USD 7 billion industry-wide limit on overseas investments.

Fintech / Regtech

BSP Launches Open Finance Roadmap, Financial Inclusion Strategy

02/02/2022

The open finance roadmap paves the way for greater collaboration and data sharing between FIs and fintechs, which will help boost financial inclusion.