Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Crypto / Digital Assets
CFTC Penalises Coinbase for False Reporting, Wash Trading
23/03/2021
The settlement requires Coinbase to pay $6.5mn, and desist from any further violations of the Commodity Exchange Act or CFTC regulations.
ESG / Sustainability
IFRS Foundation Forms Working Group to Converge Standards
23/03/2021
The working group will provide a forum for structured engagement with standard-setting bodies to converge their various sustainability reporting standards.
Fintech / Regtech
BSP, PDAX to Cooperate on Crypto-and-Fintech Regulatory Sandbox
23/03/2021
A crypto-and-fintech regulatory sandbox will boost innovation and technological advancement in financial services, while also increasing public participation in these markets.
Taiwan Central Bank Tightens Controls on Property Lending
23/03/2021
Taiwan central bank says the measures are aimed at curbing property hoarding and mitigating speculation by highly leveraged borrowers.
Enforcement
CBA, ANZ to Settle 2016 Lawsuit Involving BBSW Manipulation
23/03/2021
The case was initially launched by two US hedge funds and a US-based derivatives trader, alleging they suffered losses due to bank manipulation of the BBSW.
Fintech / Regtech
SFA, Remittance Association to Jointly Strengthen SG Remittance Industry
22/03/2021
The SFA Remittance Sub-Committee has been launched to promote the adoption of technologies to strengthen Singapore’s money remittance industry.
Capital / Liquidity
CBIRC Probes Reveal 19,900 Shareholder Violations at Rural Banks
22/03/2021
Over 70 percent of the violations have so far been resolved; 281 institutions were fined a total CNY 150 million; 711 shareholders were fined CNY 20.4 million.
Hong Kong: Enhanced 100% Loan Guarantee Set to Take Effect
22/03/2021
The maximum loan amount per enterprise, total loan ceiling, maximum repayment period, and duration of moratorium will be extended.
AML / KYC
Singapore Police Issue First Charges in Nickel Trading Fraud Case
22/03/2021
At least SGD 1 billion was invested for the purported sale and purchase of nickel, making the case one of the largest financial fraud cases in Singapore.
Enforcement
CBIRC Finds Violations in XW Bank’s Consumer Loans Business
22/03/2021
Xiaomi-backed digital bank, XW Bank, breached financial regulations for charging over 30 percent interest on consumer loans.
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