Editors
Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Articles by Editors
Cybersecurity
Japan FSA to Inspect FIs for Cybersecurity Effectiveness
22/02/2022
The FSA will carry out inspections to verify the effectiveness of cyber security systems at FIs. Common issues and good practices identified will be shared with the industry.
PEPs & Sanctions
US Imposes Sanctions Against ‘Breakaway’ Regions in Ukraine
22/02/2022
The sanctions come after Russian President Vladimir Putin signed a decree recognising two regions in eastern Ukraine as independent.
KYC & CDD
China: Regulators Suspend Implementation of New CDD Rules
22/02/2022
The new rules were meant to take effect on 1 March, but implementation has been suspended “due to technical reasons”.
KYC & CDD
AUSTRAC Proposes New Guidance on Performing SoF, SoW Checks
22/02/2022
The draft guidance explains source of funds and source of wealth checks, and when reporting entities should perform such checks using a risk-based approach.
Anti-Money Laundering
Philippine AMLC Asks FIs to Guard Against Digital Vote-Buying
21/02/2022
The advisory comes in anticipation of an influx of financial activities that usually occur during elections. The Philippines has a general election on 8 May.
Payments & Settlements
Nepal to Become First Country to Deploy India’s UPI
21/02/2022
Nepal’s UPI is expected to be deployed over the next few months, with all the functionalities and features presently available in India.
Structural Regulation
RBI to Consolidate Reg Reporting Requirements in Single View
21/02/2022
The RBI will withdraw 100 circulars and consolidate all regulatory reporting and return submission requirements on a single webpage.
Anti-Bribery & Corruption
Korea’s KT Corp to Pay $6.3m for FCPA Violations
21/02/2022
KT Corp maintained slush funds for nearly a decade which were used by executives and employees to bribe Korean and Vietnamese officials.
CBDCs
Taiwan to Complete Second Phase of CBDC Trials By September
21/02/2022
Under the current design, a two-tier system is being used that will allow users to exchange bank deposits with the TWD digital currency.
Credit Risk
BNM Allows Individuals to Complete eCCRIS Registration Digitally
21/02/2022
The enhancements make it more convenient and safer for individual users to register for eCCRIS and access their credit reports, for free, BNM says.
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