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.