AML / KYC

KoFIU Notifies Foreign VASPs of Their Obligation to Register

23/07/2021

Foreign VASPs that continue to target Korean customers after 24 September without registering with KoFIU will be subject to penalties in Korea.

Market Infrastructure

ARRC Endorses Shift to RFRs for Cross-currency Basis Swaps

23/07/2021

From 21 September, interdealer trading in cross-currency basis swaps between USD, JPY, GBP and CHF would reference each currency’s RFR.

Securities / Derivatives

Taiwan Launches Two New Trading Boards for Startups

23/07/2021

Only qualified investors can trade on the new boards, including individuals that meet a net worth or annual income requirement.

AML / KYC

Japan Banks to Deploy Shared System for AML/CFT Monitoring

22/07/2021

The FSA’s Hiroshi Ozaki said the banking sector is planning to deploy a shared transaction monitoring and screening system for AML/CFT across the industry.

Securities / Derivatives

Japan FSA Consults on Draft Guidelines for Social Bonds

22/07/2021

The guidelines are aimed at promoting the issuance of social bonds by the private sector and preventing ‘social washing’.

AML / KYC

HKMA Targets Effectiveness in Addressing AML, Fraud risk

22/07/2021

HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.

ESG / Sustainability

HKMA Issues Draft Guideline for Banks on Climate Risk Management

21/07/2021

The guideline includes expectations on governance, strategy, risk management and disclosure. The HKMA plans to allow a 12-month period for implementation.

Capital / Liquidity

WWF Calls for Supervisory Action to Address Biodiversity Loss

17/07/2021

Capital requirements should be enhanced when institutions are exposed to sectors detrimental to the environment, says a new WWF report.

Capital / Liquidity

Climate Stress Tests Will Inform Supervisory Discussions

17/07/2021

Climate stress test exercises will likely become the basis of supervisory discussions regarding bank business models, internal governance and risk management.