Fintech / Regtech

Hong Kong IA Relaxes Rules on Online Sale of Insurance

15/03/2022

ILAS (investment-linked assurance schemes) can now also be distributed using non-FTF methods, with a fast track authorisation process.

Market Infrastructure

PBOC Outlines Achievements to Resolve Financial Risks

14/03/2022

The PBOC cited as examples the measures taken in relation to TMRW Group, Anbang, HNA Group, Baoshang Bank, Bank of Jinzhou and Hengfeng Bank, among others.

Fintech / Regtech

Thailand to Offer Tax Exemptions on Crypto Trades

14/03/2022

Traders will be allowed to offset annual losses against crypto gains for taxes purposes. Crypto trades will also be exempt from a 7 percent VAT.

Securities / Derivatives

Mainland Investment Banks Barred from Sponsoring HK SPACs

14/03/2022

Mainland investment banks cannot act as SPAC promoters in Hong Kong, but commercial bank-affiliated institutions can.

Enforcement

SEBI Seizes Records from Market Manipulators in 4 States

14/03/2022

Individuals and entities were operating Telegram channels to encourage investors to deal in listed stocks, thereby creating “artificial volume and price rise”.

Securities / Derivatives

Bangladesh Adjusts Circuit Breaker to Prevent Stock Market Losses

14/03/2022

Trading to be halted if a listed company loses 2% in value. BSEC also urging banks to make fresh investments in the stock market.

AML / KYC

G7 to Downgrade Russia Trade Status, Close Sanctions Loopholes

13/03/2022

US bans more Russian trade. G7 pledges to close national-level loopholes that could enable sanctions evasion via crypto-assets, among other commitments.

Fintech / Regtech

Japan Crypto Industry Set to Adopt Travel Rule

13/03/2022

The travel rule will increase transparency on the individuals and entities crypto exchanges deal with, as the government seeks to prevent sanctions evasion.

Fintech / Regtech

Paxos, Sygnum to Offer Digital Asset Services in Singapore

11/03/2022

Paxos will gain a DPT licence under the Payment Services Act. Sygnum will provide fund unit tokenisation and securitise NFTs and metaverse assets.