AML / KYC

Korean VASPs Barred From Trading Native Tokens

29/09/2021

A new conflict of interest rule bars VASPs from trading native tokens and their staff from trading virtual assets on their own platforms.

Korea to Impose Stricter Measures to Control Household Debt

29/09/2021

FSC chairman Koh Seung-beom said the process of reversing the buildup of household debt will “take time and be uncomfortable”.

Market Infrastructure

China, EU to Publish Common Taxonomy by Year-End

29/09/2021

The China-EU common taxonomy for sustainable finance will make it easier for other countries to recognise China’s green financial assets, PBOC officials say.

Big Picture

OECD Calls on Financial Sector to Bolster Trust in AI

29/09/2021

A new OECD report identifies four determinants of trustworthy AI in the financial sector – transparency, fairness, data governance and accountability.

Securities / Derivatives

PCAOB Adopts Rule on Delisting ‘Non-compliant’ Chinese Firms

29/09/2021

The new rule could result in mass delistings of Chinese companies from the US market in 2024 unless the PCAOB is granted access to inspect Chinese audits.

Fintech / Regtech

Central Banks Create Prototype Platform for mCBDC Settlements

28/09/2021

The prototype platform was able to complete international transfers and foreign exchange operations in seconds while also lowering the cost of cross-border operations.

Fintech / Regtech

HKMA Issues Guide on Regtech Adoption for GRC

28/09/2021

The guide outlines common challenges associated with regtech adoption for GRC and describes how successful firms have addressed these challenges.

Market Infrastructure

FIs Increasingly Sharing Data to Prevent, Mitigate Cyberattacks

28/09/2021

Global cyber intelligence sharing among financial institutions increased 60 percent in the past year, driven by supply chain and ransomware threats.

AML / KYC

HKMA Identifies AML/CFT Gaps in Stored Value Facilities

27/09/2021

The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.