Asia-Pacific

Banks will face challenging conditions in 2019 due to moderating economic growth, slowing credit expansion and US-China trade tensions, but have adequate buffers against growing risks.

ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.

Asset quality in the banking system is deteriorating due to governance weaknesses, with banks dipping into their core capital due to non-payment of loans.

By moving to a blockchain platform, Calastone seeks to address the high cost of funds distribution and operational risk resulting from manual processes, older systems and legacy technology.

The bourse said the move to a shorter settlement cycle will improve operational efficiency, reduce counterparty risk and improve the competitiveness of Malaysia's capital market.

The BSP will require financial institutions to collect customers' unique 'PhilSys' ID numbers, and allow the use of technology to capture and record personal data.

New guidelines seek to boost retail investor participation in the ETF market by facilitating greater product innovation and allowing for the issuance of a more diversified range of ETFs.

Indonesia becomes the second Southeast Asian country to implement T+2 settlement, in a move that is expected to improve liquidity, reduce settlement risk and boost foreign participation.

New regulations will make it easier for financial institutions to lend to SMEs and adopt new technologies, while also reducing burdensome approval processes.

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