Manesh manages the news desk and serves as an editor at Regulation Asia. He covers regulatory changes across Asia Pacific that impact banking, capital markets, asset management, and financial services more generally. Manesh is a former trader and investment consultant with a degree in Finance and Banking. manesh@regulationasia.com
Crypto / Digital Assets
Report Suggests China May Support Global Crypto Regulation
03/04/2018
PBOC’s Institute of International Finance says China would actively participate in a G20-led effort to establish a global regulatory framework.
Market Infrastructure
Malaysia Foils Cyber Attack Involving Falsified SWIFT Messages
01/04/2018
Unauthorised transactions were prevented by central bank, no financial losses occurred; near breach prompts increased vigilance in the Philippines.
Crypto / Digital Assets
Thailand Finalises Cryptocurrency Tax Framework
30/03/2018
Cryptocurrency trades to be subject to 7 percent value added tax and 15 percent capital gains tax; fintech association chair says move may drive startups overseas.
Enforcement
Royal Commission Exposes Multiple Lending Practice Failures at Big Four
29/03/2018
Public inquiry’s first round of hearings reveals multiple failures at ‘big four’ banks to lend in customers’ best interests.
Fintech / Regtech
BOJ-ECB Study Identifies DLT Applications for Securities Settlement
29/03/2018
Project Stella phase two study suggests distributed ledger technology offers novel approach for cash settlement of securities, but requires further study.
Securities / Derivatives
China Launches Crude Oil Futures
27/03/2018
Foreign investors allowed to participate in China’s futures market for the first time; foreign currencies to be used for margin deposits to facilitate foreign participation.
AML / KYC
S.Korea to Inspect Banks’ Crypto Dealings for AML Compliance
26/03/2018
FSS and KoFIU will check on implementation progress of AML guidelines; examine corporate accounts belonging to crypto exchanges.
Fintech / Regtech
Australia, UK to Enable Cross Market Sandbox Participation
25/03/2018
Under the enhance cooperation agreement, the FCA and ASIC will speed up cross-market authorisations and testing for innovative businesses.
Capital / Liquidity
Basel Committee Revises Capital Rules Under FRTB
25/03/2018
Proposals include enhanced risk sensitivity and reduced risk weights for standardised approach; eased assessment process for internal models.
Fintech / Regtech
Thailand Banks on Blockchain
22/03/2018
Central bank plans adoption of blockchain for interbank settlements, bond issuance; leading banks launch joint initiative on blockchain based letters of credit.
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