Editors
Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. [email protected]
Articles by Editors
Conduct, Culture & Accountability
US SEC Fines JPMorgan for Inadvertently Deleting Emails
25/06/2023
The emails were accidentally permanently deleted during a project to delete certain historical communications from the 1970s and 1980s.
Anti-Money Laundering
Switzerland Freezes $26m in Crypto Linked to Terra Collapse
25/06/2023
The assets, held at digital asset bank Sygnum, were frozen in response to a request from US and Korean authorities.
Conduct, Culture & Accountability
Japan FSA Takes Administrative Action Against Two Banks
24/06/2023
The banks sold risky structured bonds to clients without checking their investment experience and explaining the risks.
Cybersecurity
CFTC to Propose Rule on Operational and Cyber Resilience
23/06/2023
CFTC commissioner sees a need for the industry to shift “from incident response to cyber resilience”. New rule will be proposed in the next few months.
Anti-Money Laundering
US, EU Push for UAE Removal from FATF Gray List
23/06/2023
Some officials have reportedly been pushing for UAE to be removed from the FATF’s grey list. The country could be removed in as soon as a few months.
Stablecoins
Upper House of UK Parliament Approves Financial Services and Markets Bill
23/06/2023
The bill will give regulators powers to regulate stablecoins and crypto activities and enable the PSR to force banks to reimburse APP fraud victims.
Structural Regulation
Philippines Sets Temporary Replacement Rate for LIBOR
23/06/2023
The temporary O/N reference rate to replace LIBOR will be based on the 28-day BSP bill rate. A permanent benchmark and “credible” yield curve will be developed by January 2024.
Cloud & Infrastructure
FSB Consults on Third-Party Risk Management Toolkit
23/06/2023
The toolkit has been developed amid a growing reliance on third-party service providers for critical financial sector operations.
KYC & CDD
OCBC Launches Digital Account Opening Service for Foreign Consumers
23/06/2023
Customers who plan to relocate to Singapore from Malaysia, Indonesia, mainland China and Hong Kong can open OCBC bank accounts digitally.
PEPs & Sanctions
US Sanctions Myanmar Ministry of Defence, Two State Banks
23/06/2023
OFAC said the two banks facilitate foreign currency exchanges that enable the military regime to buy weapons from foreign markets and entities.
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