Asia-Pacific

APAC’s data intensive regulatory environment is making it increasingly important for banks to adopt a strategic data framework, say Swati Kothari and Jackielou Imperial at Wolters Kluwer.

Regulation Asia held its second annual Awards ceremony on 13 November 2019 to recognise technology companies, legal and consulting firms, and exchanges that have helped shape the regulatory landscape in Asia Pacific over the past year.

The new system will provide greater convenience for investors, alleviate intermediaries' cash management burden, and mitigate payment risks in the banking system.

Branch licences will allow wholesale banking activities, while subsidiary licences will permit retail banking services in addition to wholesale banking.

Investors are allowed to invest up to $200,000 in foreign securities without going through a Thai intermediary, and restrictions on outward fund transfers have been eased.

Tokenised securities will impact traditional finance and act as a bridge between legacy finance and the new digital world, taking benefits from each system, ASIFMA says in a new white paper.

Account opening in Bangladesh currently takes 3-7 days. Based on pilot testing in 33 districts, the new e-KYC system will reduce this to just 5 minutes.

Asian banks have a large and complex operational task ahead of them as they prepare for a post-LIBOR world after 2021, say KPMG’s Marie Gervacio and Luke Gower.

The BSP is considering placing limits on the interest rates and other fees lenders and finance companies can charge borrowers in response to a request from the SEC.

The BOT invites wholesale FX market participants to comment on a draft 'Thailand FX Code' by 25 November.