Malaysia

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.

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 court-suppressed penalties were paid by the RBA subsidiaries to settle charges of conspiracy to bribe foreign officials for the purpose of obtaining or retaining business.

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.

In a demo at Singapore FinTech Festival, multiple funds transfers were conducted between a UOB Singapore account and a UOB Thailand account in real time via the bank's mobile app.

Malaysian politician Anwar Ibrahim told Bloomberg it would be “inexecusable” if the bank was itself found complicit in money laundering and bribery related to the state development fund.

Measures include new regulatory framework for cryptocurrencies, and a new fund to be invested via ECF and P2P platforms alongside private investors, among others.

More actions needed to further strengthen the framework, including a greater focus on terrorist financing risk from the private sector and foreign source threats.