Fintech / Regtech

MAS Targets Market Abuse, Misconduct, AML Control Breaches

04/11/2020

In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.

Relief Available to S-REITs, SMEs Harmed by Re-align Framework: MAS

04/11/2020

While financial contracts are excluded from the Framework, some SMEs and S-REITs may be adversely impacted by the legislative measures.

Market Infrastructure

China Drafts Rules for National Carbon Emissions Trading Scheme

04/11/2020

Companies will have to issue emissions reports, subject to strict disclosure and verification requirements, which will be used to determine the allowances they can trade.

ESG / Sustainability

‘Global Asia Insurance Partnership’ to Launch in January

04/11/2020

GAIP will incubate new risk financing solutions for emerging risks in Asia and serve as a policy think tank, initially focusing on pandemic risk and climate risk.

AML / KYC

FSC Korea to Introduce FATF-aligned AML Rules for VASPs

04/11/2020

Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.

Enforcement

New Zealand FMA Proposes New Guidance on KiwiSaver Fees

04/11/2020

The proposed guidance sets out ongoing obligations for KiwiSaver schemes to regularly review their fees to ensure members not being charged unreasonable fees.

Enforcement

BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA

04/11/2020

ESMA says it identified deficiencies, inefficiencies and legal and procedural impediments in the supervisory response to Wirecard between 2016 and 2018.

Market Infrastructure

HKMA Launches Upgraded Cybersecurity Fortification Initiative

03/11/2020

CFI 2.0 streamlines the cyber resilience assessment process, incorporates international practices on incident response and recovery, and facilitates the development of the local talent pool.

Capital / Liquidity

BCBS Updates G20 Leaders on Basel III implementation

03/11/2020

Most member jurisdictions have final rules in place for Basel III standards, though some are yet to come into force. China has progressed on TLAC rules.