Regulation Asia: Top 20 News Stories for 2022

This list presents the most-read new stories published by Regulation Asia in 2022, based on aggregated user traffic analytics.

FATF Blacklists Myanmar, Sidelines Russia, De-lists Pakistan (24 Oct 2022)
Myanmar is on the FATF “blacklist” alongside Iran and North Korea. Pakistan was removed from the “grey list”.

Common Ground Taxonomy: An Analytical Tool (24 Sep 2022)
The HKGFA is looking to address misconceptions about the EU-China Common Ground Taxonomy and how it is meant to be used, says Chaoni Huang.

ISSB Publishes First Sustainability Reporting Standards (1 Apr 2022)
The ISSB requests feedback on general and climate-focused disclosure drafts, which will be finalised by end of 2022.

Hong Kong FSTB Issues Policy Statement on Approach to Virtual Assets (31 Oct 2022)
The SFC will be consulting on how retail investors may be given a “suitable degree of access” to virtual assets under Hong Kong’s new licensing regime.

Singapore, Korea, Switzerland Announce Sanctions Against Russia (1 Mar 2022)
Singapore will block certain Russian banks and financial transactions connected to Russia. Major Singapore banks are already restricting trade financing for Russian commodities.

Singapore Taskforce Issues Second Consultation on Green Taxonomy (13 May 2022)
The proposed traffic light-based taxonomy is accompanied by a user guide for financial institutions and companies to apply the taxonomy.

SG Police Warns of Phishing Scams Impacting OCBC Customers (3 Jan 2022)
At least 469 victims have fallen victim to phishing SMS scams during December 2021, with losses amounting to at least SGD 8.5 million.

MAS to Ban Payment for Order Flow from 1 April 2023 (7 Nov 2022)
Brokers “should not receive PFOF in placing and/or executing customers’ orders” because it “introduces conflicts of interests” and is “likely to cause harm to customers”, MAS says.

Asset Managers Should Put Customers at Heart: SGX (22 Apr 2022)
At the IMAS Digital Summit 2022, SGX CEO Loh Boon Chye discussed the exchange’s approach to digital assets and technology adoption.

HKMA Invites Global Banks to November Summit in Hong Kong (10 Jun 2022)
The two-day summit is reportedly aimed at reversing an exodus of financial talent from Hong Kong after more than two years of Covid-19 measures.

HKMA Unveils Results of Climate Risk Stress Tests (3 Jan 2022)
The HKMA has also finalised its guidance on climate risk management, giving banks until end-2022 to implement the new measures.

Video: A Closer Look at Singapore’s COSMIC Platform (20 May 2022)
DBS’ Chee Kin Lam and HSBC’s Jamil Ahmed discuss COSMIC’s development and how the platform will work to help combat financial crime.

Suisse Secrets: Data Leak Reveals Criminals Clients at Swiss Bank (21 Feb 2022)
The data unearthed evidence that Credit Suisse accounts were used by clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.

Hong Kong Plans Measures to Lure ESG, Fintech Talent (7 Sep 2022)
The government will also dedicate resources towards providing training aimed at developing local ESG talent. Applications for a fintech subsidy scheme will open on 10 September.

Financial Transaction Taxes Disrupt Securities Markets: ASIFMA (20 Jun 2022)
Financial transaction taxes tend to reduce stock prices, trading volume, liquidity, and overall market attractiveness.

China Legislature Passes Futures and Derivatives Law (21 Apr 2022)
The final version of the law further improves derivatives trading supervision and specifies rules for foreign institutions operating in China.

MAS to Issue New Anti-Greenwashing Rules for ESG Funds (1 Feb 2022)
Greenwashing poses a “real and present danger” to industry efforts to advance sustainability considerations in their investment processes.

ABS Launches Environmental Risk Questionnaire for Banks (21 Apr 2022)
The ABS has launched an industry standard template to help banks engage corporate clients in the assessment and mitigation of environmental risk issues.

MAS Finalises Revisions to BCM Guidelines for FIs (7 Jun 2022)
FIs have until 6 June 2023 to meet the requirements of the revised guidelines, and until 6 June 2024 to conduct their first BCM audit.

China: ESG Disclosure Standards to Take Effect on 1 June (14 May 2022)
Ping An, China Mobile, Ant Group, Dagong Credit Rating as well as asset managers and energy producers helped to develop the standards.

For our top ten contributed articles of the year, click here.

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