Fintech / Regtech

Cambodia Launches Central Bank Backed Digital Currency

28/10/2020

The digital currency, known as Bakong, allows users to transfer money using a mobile app by scanning QR codes or inputting the recipient’s phone number.

Crypto / Digital Assets

Malaysia’s Guidelines on Digital Assets Enter Into Force

28/10/2020

The Securities Commission invites parties interested in registering as IEO platform operators or digital asset custodians to start submitting their applications.

Market Infrastructure

PBOC Instructs Yuan Fixing Banks to Suspend Counter-cyclical Factor

28/10/2020

The counter-cyclical factor is the adjustment contributing banks make to the daily trade-weighted reference rate that the PBOC has to date used dampen depreciation pressure.

Securities / Derivatives

CSRC Updates Rules to Protect Convertible Bond Investors

28/10/2020

Trading venues will have to develop an investor suitability management system, and securities firms will have to conduct client suitability assessments.

Crypto / Digital Assets

DBS to Launch Digital Exchange, Subject to Regulatory Approvals

28/10/2020

The exchange will offer trading services from fiat currencies to four of the top digital currencies in circulation, as well as capital raising through STOs.

APRA Updates Standard for Reporting Credit Exposures, Provisions

28/10/2020

The draft ARS 220.0 is intended to align with the updated Prudential Standard APS 220 Credit Risk Management, which will come into effect from 1 January 2022.

Enforcement

SC Malaysia Establishes Task Force to Combat Financial Scams

27/10/2020

SC chairman Datuk Syed Zaid Albar SAID Malaysian nationals lost $220mn to financial scams in the first six months of this year.

Capital / Liquidity

MAS Seeks Removal of REIT Manager for SFA Breaches

27/10/2020

Eagle Hospitality REIT Management breached the minimum base capital and financial resources requirements under the SFA three times in the span of about a year.

AML / KYC

PBOC Issues Draft AML Rules for Beijing Real Estate Sector

27/10/2020

The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.