AML / KYC

S. Korean Banks’ AML Programmes Under US Regulatory Scrutiny

23/05/2018

New York State Department of Financial Services to conduct inspections at South Korean bank branches for compliance with AML regulations.

Capital / Liquidity

US Fed Vice Chairman Suggests Lower Capital Requirements for Foreign Banks

21/05/2018

Vice chairman proposes lowering capital requirements, streamlining resolution rules of failing foreign banks, in acknowledgment of steps taken by other regulators.

Securities / Derivatives

SFC Expands Professional Investor Rules

21/05/2018

SFC’s new professional investor rules will expand categories, amend qualification threshold starting from 13 July 2018.

Securities / Derivatives

Hong Kong Allows Corporate Setup for Investment Funds

18/05/2018

SFC’s new open-ended fund company (OFC) regime will allow investment funds to set up under corporate structures starting from 30 July 2018.

Crypto / Digital Assets

Thailand ‘Digital Asset’ Decree Takes Effect

17/05/2018

Cryptocurrencies now defined as digital assets, granting the SEC powers to regulate; exchanges have 90 days to register with SEC.

Crypto / Digital Assets

South Korea to Ease Cryptocurrency Policy

17/05/2018

South Korea to soften cryptocurrency policy, apply FATF standards; central bank to release recommendations by end of June.

Market Infrastructure

ASIFMA: HK Financial Secretary Lauds China as Global Standards Setter

17/05/2018

James Lau said China is becoming a pioneer in setting global standards with an “open and supportive regulatory environment”; HK a “premier listing platform” for mainland enterprises.

Fintech / Regtech

Taiwan’s Fubon Bank Launches Blockchain Payment System

16/05/2018

Fubon becomes first Taiwanese bank to launch blockchain-based retail payment system, cutting transaction times to less than one second.

Fintech / Regtech

IOSCO Meets to Discuss Investor Protection, Emerging Risks

15/05/2018

Board to develop support framework to help members address impact of ICOs on investor protection; agree to launch ‘Fintech Network’ to facilitate collaboration on fintech.