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AML / KYC
UPDATED – Bangladesh Bank Files New York Lawsuit over Cyber Heist
By Editors | 04/02/2019
Bangladesh Bank has filed a $66mn lawsuit against Philippines-based RCBC and others over the 2016 bank heist, where hackers stole $101mn from its account with the New York Fed.
Market Infrastructure
Asia Region Funds Passport Goes Live
By Editors | 03/02/2019
Japan, Thailand, Australia ready to receive applications from prospective ARFP funds; New Zealand, S. Korea making progress on legal and regulatory requirements.
Securities / Derivatives
China Consults on Rules for Shanghai’s New Science and Technology Board
By Editors | 31/01/2019
New rules under consultation cover auditing, issuance, listing, underwriting, trading and supervision of companies listed on the SSE’s new science and technology board.
China Appoints Veteran Banker to Head Securities Regulator
By Editors | 28/01/2019
In an unexpected reshuffle, ICBC chairman Yi Huiman has replaced Liu Shiyu as head of the China Securities Regulatory Commission.
Market Infrastructure
ICE White Paper Introduces New LIBOR Alternative
By Editors | 28/01/2019
The ‘US Dollar ICE Bank Yield Index’ is fully transaction-based and designed to measure the yields at which investors are willing to invest US dollar funds on a wholesale, unsecured basis.
Big Picture
ISDA Lays Out CCP Best Practices Following Nasdaq Default
By Garima Chitkara | 25/01/2019
Clearinghouses should consider multiple risk factors in determining exposure and put more of its own capital on the line to manage defaults before dipping into the member default fund.
Market Infrastructure
China Approves Plan for New ‘Nasdaq-Style’ Tech Board in Shanghai
By Editors | 25/01/2019
Authorities have reportedly already approached potential IPO candidates for the SSE’s new science and technology board. Draft listing rules are expected as early as this month.
Securities / Derivatives
Singapore, Philippine Bourses Collaborate on Equity Derivatives
By Editors | 15/01/2019
The SGX and PSE are working on developing new equity index derivatives for listing in the Philippines to offer a more diverse product line to international investors.
AML / KYC
Philippine Court Rules in First Conviction in Bangladesh Bank Heist Case
By Garima Chitkara | 11/01/2019
Former RCBC bank manager Maia Santos-Deguito faces 49 years imprisonment and fines of up to $110mn for her role in the February 2016 theft of $81mn from Bangladesh’s central bank.
Fintech / Regtech
Philippines SEC Extends Consultation on ICO Rules
By Editors | 31/12/2018
The second round of public consultation is open until 15 January, after stakeholders asked for more time to study the draft rules.
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