Crypto / Digital Assets

HKMA Names First Participants of Stablecoin Sandbox

19/07/2024

The participants are Jingdong Coinlink Technology, RD InnoTech, Standard Chartered, Animoca Brands, and HKT.

Enforcement

APRA Reduces Westpac’s Operational Risk Capital Add-on

19/07/2024

APRA reduced Westpac’s A$1bn operational risk capital add-on by half in response to progress made to address risk governance concerns.

Fintech / Regtech

KRX Commences Work on Short Selling Monitoring System

19/07/2024

KRX plans to recruit contractors early next month to work on the new monitoring system, which will launch by the end of March next year.

Securities / Derivatives

BSP Issues New Guidelines on FX Reporting and Penalties

18/07/2024

The BSP says reporting entities have until 31 December to make the necessary preparations and adjustments to their systems and processes.

Crypto / Digital Assets

Hong Kong Publishes Results from Stablecoin Consultation

18/07/2024

Based on feedback, the FSTB and HKMA will prepare a bill to implement a regulatory regime for stablecoins and submit it to LegCo later this year.

Market Infrastructure

SFC to Implement New Paperless Securities Regime by End 2025

17/07/2024

The SFC aims to implement the new regime towards the end of 2025, but give companies until end-2030 to transition.

Market Infrastructure

LegCo Progresses Work to Waive REIT Trading Stamp Duty

17/07/2024

Legislative proposals will be introduced this year to waive stamp duty for REIT transactions and options market-making.

Enforcement

APRA Orders Superannuation Trustee to Address Data Issues

17/07/2024

APRA requires Fiducian Portfolio Services to fix issues related to the accuracy and completeness of data submitted for the superannuation performance test.

Enforcement

Australia Convicts Ex-Crypto Promoter for Unlicensed Financial Advice

16/07/2024

John Bigatton was convicted for providing unlicensed financial advice when he promoted BitConnect in seminars and on social media.