Editors
Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Articles by Editors
Conduct, Culture & Accountability
Trust in Singapore Banks Increases for Second Year Running
13/02/2023
The ABS Culture and Conduct Steering Group will seek to further build trust by strengthening digital banking security and highlighting banking practices that may compromise consumers.
Capital Adequacy
US Bank Stress Tests to Feature New ‘Exploratory Market Shock’
13/02/2023
The ‘exploratory market shock’ will be an additional component of the 2023 stress test, applied to the trading books of the eight largest US banks.
Payments & Settlements
HSBC Launches Multicurrency Payment Platform for E-Commerce
13/02/2023
The platform allows e-commerce businesses in Hong Kong to receive payments from overseas customers in six currencies within minutes.
PEPs & Sanctions
US Blacklists Six Chinese Entities Over Alleged Spy Balloons
13/02/2023
The economic restrictions will make it more difficult for the five companies and one research institute to obtain US technology exports.
Credit Risk
China Tightens Risk Classification Rules for Banks’ Financial Assets
13/02/2023
Banks must classify “all financial assets that bear credit risk” according to the degree of risk, including bond investments, interbank assets, receivables, and off-balance-sheet assets.
Stablecoins
UPDATED: NYDFS, SEC Scrutinise Paxos Over BUSD Stablecoin
13/02/2023
Paxos is the issuer of a Binance-branded stablecoin that ranks as the third-largest, as well as its own stablecoin called Pax Dollar, the sixth largest.
KYC & CDD
Wolfsberg Group Updates CBDDQ, FCCQ, and Related Documents
13/02/2023
The CBDDQ updates include a new section on fraud and additional questions related to whistleblower policy, virtual bank licence, the approval of sanctions policy, and other changes.
PEPs & Sanctions
South Korea Issues First Independent DPRK Sanctions
12/02/2023
The sanctions came hours after South Korea and the US released a joint cybersecurity advisory detailing the threat posed by North Korean ransomware actors.
Anti-Money Laundering
BIS Innovation Hub to Study Use of Data Technologies for AML
12/02/2023
Project Aurora will study privacy-enhancing technologies, machine learning methods, network analysis, the use of additional data sources, and “machine-readable typologies”.
Fraud, Scams & Cybercrime
US, UK Jointly Sanction Russian Ransomware Actors
12/02/2023
The first-of-its-kind joint action marks the first time suspected ransomware operators have been designated under the UK sanctions regime.
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