AML / KYC

OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay

20/02/2021

BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.

Capital / Liquidity

FSC Korea to Enhance Recovery and Resolution Regimes of SIFIs

20/02/2021

SIFIs will have 3 months after designation to submit recovery plans to regulators. The FSC will have the authority to demand action from a SIFI in line with its recovery plan.

ESG / Sustainability

Australia Introduces ‘Your Future, Your Super’ Bill to Parliament

19/02/2021

Industry bodies ISA and AIST say the legislation doesn’t go far enough and are pushing for the legislation to be reviewed by a Senate Committee.

AML / KYC

FSC Korea Proposes Additional Rule Changes for VASPs

18/02/2021

The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.

Securities / Derivatives

Moscow Exchange Revises Trading Hours to Attract China Traders

18/02/2021

Russia’s main bourse will open three hours earlier to promote currencies and derivatives trading by Chinese market participants.

ESG / Sustainability

Trade Bodies Set Out Framework for US Transition to Low-Carbon

18/02/2021

The framework sets out ten principles to inform the policymaking process and catalyse the transition to a more sustainable and inclusive low-carbon economy.

Market Infrastructure

ASX Proposes Changes to Netting, Settlement Workflows

18/02/2021

The proposed changes will allow the CHESS replacement system to be scaled to much higher volume levels than previously envisaged, ASX said.

Securities / Derivatives

SGX May Introduce SPACs This Year, Subject to Market Support

18/02/2021

SGX chief Loh Boon Chye says SPACs could facilitate access to capital while minimising market risk exposure by providing another avenue for investment.

Big Picture

Singapore Rated Asia’s Top Regulatory System, Followed by Hong Kong

18/02/2021

Duff & Phelps survey respondents rated the UK as the world’s top regulatory regime, followed by Singapore and the US, which tied for second place.