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Anti-Money Laundering
Japan FSA Recognised for Outstanding Work as AML Regulator
By Editors | 22/11/2022
Financial Services Agency Japan, was recognised as Regulator Project of the Year for its efforts to enhance Japan’s AML/CFT regime.
Custody & Infrastructure
NAB to Close Custody, Asset Servicing Business
By Editors | 19/11/2022
NAB is the only Australian big four bank still providing custody services in Australia. Its asset servicing business is now set to be closed in 2025.
Fraud, Scams & Cybercrime
FTX’s “Complete Failure” of Corporate Controls, Worse Than Enron
By Manesh Samtani | 18/11/2022
Restructuring specialist John J Ray says FTX’s failure is the worst he has ever seen, citing control failures and the “complete absence” of trustworthy financial information.
Clearing & Post-Trade
UAE State Fund Acquires Stake in AirCarbon Exchange
By Editors | 17/11/2022
The investment will help AirCarbon Exchange establish a regulated carbon trading exchange and clearinghouse in Abu Dhabi.
Custody & Infrastructure
NYIC, US Banks Launch PoC to Test Digital Money Platform
By Editors | 17/11/2022
Participants include BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, US Bank, Wells Fargo, SETL, Digital Asset, AWS, SWIFT, Sullivan & Cromwell, and Deloitte.
Cryptocurrency
Korea FSS to Issue Accounting Guidelines for Crypto Firms
By Editors | 17/11/2022
The current accounting system in Korea does not provide options for companies dealing in crypto.
Cryptocurrency
ISDA to Publish Draft Standards for Crypto Derivatives by Year End
By Manesh Samtani | 15/11/2022
ISDA will also consider developing collateral documentation for OTC crypto derivatives transactions and standard contracts for crypto swaps and physically-settled transactions.
Cryptocurrency
Singapore and Hong Kong Regulators Address FTX Queries
By Editors | 15/11/2022
MAS said FTX is neither licensed nor exempt from licensing in Singapore. Hong Kong’s SFC said licensed fund managers’ exposure to FTX is “immaterial”.
CBDCs
BISIH to Tackle Key CBDC Challenges with Project Tourbillon
By Editors | 14/11/2022
Project Tourbillon aims to reconcile trade-offs between cyber resiliency, scalability, and privacy through experimentation with a prototype CBDC.
Anti-Money Laundering
FTX Bankruptcy, Secret Transfers, and Regulatory Probes
By Manesh Samtani | 14/11/2022
FTX files for Chapter 11 bankruptcy protection in Delaware as regulators in multiple jurisdictions investigate allegations of illegal activity.
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