AI Risk & Governance

MAS Assesses Fairness of FIs’ Use of AI/Machine Learning

05/07/2022

MAS conducted a thematic review on selected FIs’ implementation of Fairness Principles in their use of AI/machine learning.

Cryptocurrency

MAS Mulls New Restrictions on Retail Investment in Crypto

05/07/2022

New measures may include placing limits on retail participation, and introducing new rules on the use of leverage in crypto transactions.

Trading & Investment

Korea Regulators Announce Measures to Ease Market Volatility

05/07/2022

Securities firms will be exempt from a requirement to hold collateral worth at least 140 percent of the value of each stock purchase to provide credit to customers.

Fraud, Scams & Cybercrime

BSP Reiterates Calls for FIs to Enhance Anti-Fraud Measures 

05/07/2022

The BSP has vowed to intensify monitoring and surveillance of the financial industry to ensure they “remain responsive to emerging risks”.

Anti-Money Laundering

US Bill Set to Bring Gatekeepers into Scope of AML Rules

05/07/2022

The Enablers Act would require financial advisers, lawyers, art and antiquities traders to perform due diligence on their clients and file SARs.

Stablecoins

ANZ Completes First Stablecoin Transaction Involving Carbon Credit

05/07/2022

ANZ client Victor Smorgon Group successfully purchased tokenised Australian carbon credits from Zerocap using A$DC as a medium of exchange.

Structural Regulation

UK FCA Consults on Remaining LIBOR Transition Steps

04/07/2022

The FCA is seeking views until 24 August on winding down synthetic sterling LIBOR and US dollar LIBOR.

Anti-Money Laundering

Bangladesh Grants Amnesty for Repatriation of Offshore Assets

04/07/2022

The government will provide amnesty for those that choose to repatriate their offshore assets to Bangladesh and pay a 7% tax.

Credit Risk

HKMA Explores Use of Deep Learning for Credit Risk Assessment

04/07/2022

A trained model was able to consistently detect corporate credit deterioration at both the transaction level and aggregate level with a three-month lead time.