Thisanka Siripala
Thisanka Siripala is an experienced journalist and a reporter for Regulation Asia based in Japan.
Articles by Thisanka Siripala
Japan FSA Calls on Banks to Improve Internal Audit Function
16/09/2024
Japanese FIs are directed to refer to the IIA’s Global Internal Audit Standards to enhance their internal audit functions, by 1 January 2025.
Crypto / Digital Assets
UK Introduces Bill to Clarify Legal Status of Digital Assets
16/09/2024
The legislation will formally classify crypto, NFTs and certain tokenised assets as property, enabling courts to more effectively handle disputes.
Capital / Liquidity
Korea Unveils New Measures to Stamp Out Illegal Loans
14/09/2024
The FSC will take control of the registration process from local governments. Capital requirements and penalties for violations will also increase.
Fintech / Regtech
Japan to Develop Guidelines to Quantum Proof Financial Sector
13/09/2024
A set of guidelines will be prepared to assist FIs in preparing for a transition to post-quantum cryptography, drawing from NIST standards.
ESG / Sustainability
New Zealand FMA Calls For Better Ethical Investing Disclosures
13/09/2024
The FMA says it may pursue regulatory action for misleading or deceptive conduct, advertising or disclosures regarding ethical investments.
Capital / Liquidity
Korea to Introduce Stress Buffer Capital Requirement for Banks
13/09/2024
The requirement will apply to 17 commercial banks and eight financial holding firms, requiring them to hold extra capital based on their stress test results.
Fintech / Regtech
Japanese Megabanks to Stop Issuing Paper Bills and Cheques
13/09/2024
Sumitomo Mitsui will discontinue paper bills and cheques altogether in September 2025. MUFG and Mizuho Bank are expected to follow suit.
Crypto / Digital Assets
Ripple Considers Issuing Japanese Yen Stablecoin – Reports
12/09/2024
Ripple CEO Brad Garlinghouse hinted that Ripple could issue a yen stablecoin once its planned USD stablecoin is approved in the US.
AML / KYC
Japan Backs FSB Plan to Streamline Cross-border Payments
12/09/2024
However, the Japanese Bankers Association is calling for incentives to help boost the adoption of LEIs, which are currently costly and complex to implement.
ESG / Sustainability
Korean Firms Unprepared for Anti-Greenwashing Rules – Report
12/09/2024
A survey found that businesses lack executive awareness, expertise, and resources to address greenwashing regulations.
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