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Anti-Money Laundering
Regulation Asia: Top Ten Contributed Articles for 2022
By Editors | 28/12/2022
This list presents the most-read contributed articles published by Regulation Asia in 2022, based on aggregated user traffic analytics.
Emerging Prudential Risks
NYDFS Proposes Guidance on Climate Risk Management
By Editors | 27/12/2022
The guidance focuses on corporate governance; internal control framework; risk management process; data aggregation and reporting; and scenario analysis.
Stablecoins
Bank of Canada Papers Shine Spotlight on Stablecoins
By Sanday Chongo Kabange | 27/12/2022
The first paper calls for effective regulation to gain payments-related benefits. The second highlights concentration risks applicable to stablecoins and their holders.
Cryptocurrency
Insurers Are Denying Coverage to Crypto Firms Linked to FTX
By Editors | 27/12/2022
When coverage is provided, it is becoming more pricey and contains broad policy exclusions that would deny any FTX-related claims.
Fraud, Scams & Cybercrime
HK Police Arrest Two Men Over Halted Crypto Exchange AAX
By Editors | 26/12/2022
Police say the two men falsely claimed AAX was undergoing “scheduled maintenance” to suspend user withdrawals. A third individual is said to be on the run.
Structural Regulation
APRA Grants Full ADI Licence to Alex Bank
By Editors | 26/12/2022
The full ADI licence was granted 18 months after Alex Bank received its restricted ADI licence in July 2021.
Fraud, Scams & Cybercrime
Korea FSS Directs Shinhan, Woori to Improve Controls
By Editors | 23/12/2022
The FSS told Shinhan Bank to strengthen its fraud detection system and Woori Bank to improve its post-sale management of fund products.
Capital Adequacy
BaFin Imposes Capital Charge on StanChart’s German Unit
By Editors | 23/12/2022
The regulator said the bank’s internal organisation did not meet legal requirements, without disclosing further details.
Payments & Settlements
BNM Finalises New Rules for Payment System Operators
By Editors | 22/12/2022
The policy document primarily sets out regulatory requirements covering governance and risk management, in alignment with the PFMI.
DeFi & Web3
BIS Papers Explore DeFi Benefits, Risks, and Systemic ‘Fragility’
By Mark Johnston | 22/12/2022
Regulators should address DeFi risks with globally consistent regulatory frameworks. Collateral liquidations in DeFi lead to lasting price impacts.
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