Editors
Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. [email protected]
Articles by Editors
Climate Risk
Encouraging Progress on Climate Risk Roadmap: FSB
15/07/2022
The FSB has published its first annual stocktake on progress to address climate-related financial risks since the release of its roadmap last July.
Structural Regulation
OECD Confirms Timeline Revision for New Global Tax Rules
15/07/2022
A new international treaty for the Pillar One reforms will be finalised by mid-2023 for entry into force in 2024.
Conduct, Culture & Accountability
ASIC Bans Excessive Fees Charged to Small Credit Customers
15/07/2022
ASIC’s orders prohibit the provision of short term credit and continuing credit contracts which involve unreasonably high fees charged to retail clients.
Fraud, Scams & Cybercrime
Fraudulent Transactions Cost 4x the Loss Amount on Average
14/07/2022
Every $1 lost to fraud costs organisations an average of $3.99 in APAC, and around $6.33 for digital banks and alternative lenders, LexisNexis Risk Solutions finds.
Stablecoins
CPMI, IOSCO Issue Final Guidance on Stablecoin Arrangements
14/07/2022
CPMI and IOSCO confirm that the PFMI apply to systemically important stablecoin arrangements that transfer stablecoins.
PEPs & Sanctions
UK Issues Guidance on Preventing Sanctions Evasion
14/07/2022
London-based enablers are “almost certain” to be in senior positions within their company or business, says a red alert from the NCA and OFSI.
Fraud, Scams & Cybercrime
Australian Banks Introduce Dynamic CVV to Reduce Card Fraud
14/07/2022
Westpac customers who use dynamic CVV have seen an 80 percent reduction in fraud compared to those who don’t.
Emerging Prudential Risks
FSB Updates G20 on Covid-19, Climate, Crypto Work
13/07/2022
Accompanying the letter to the G20 is a report on exit strategies to address COVID-19 scarring in the financial sector, and a statement on crypto-asset regulation.
Structural Regulation
China Imposes Antitrust Fines Against Tencent, Alibaba, Others
12/07/2022
Tencent was fined CNY 6 million for its involvement in 12 transactions on a list of deals that were not properly reported.
Supervision & Enforcement
Korea FSS Bolsters Ability to Confront FIs in Court
12/07/2022
The FSS will be able to engage competent law firms with greater ease, and in some cases share legal costs with the FSC.
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