Structural Regulation

Thai SEC Launches New E-Licensing Services Pilot

15/10/2022

The services will initially allow online submissions of applications for two types of licenses. Full e-licensing services will launch in Q1 2023.

Capital Adequacy

RBI Directs Banks to Treat Certain Rated Exposures as Unrated

15/10/2022

Banks must treat corporate and NBFC exposures as if they were unrated if the lenders’ details are not disclosed in rating actions.

Cryptocurrency

Thai SEC Orders Bitkub to Fix Standards of Native Token

15/10/2022

The SEC says KUB Coin’s so-called “adminTransfer” function could be used by attackers to transfer digital assets from any wallet.

Cybersecurity

BSP Directs FIs to Bolster Email Security, Cyber Awareness

15/10/2022

Financial institutions are directed to adopt “robust and layered” security controls and industry best practices to reinforce email security.

Structural Regulation

Australia’s First Islamic Bank Prepares for Limited Launch

14/10/2022

Customers will be charged rent while living under the bank’s share of a property, rather than paying interest.

Anti-Bribery & Corruption

Glencore Facing Investor Lawsuits Following Bribery Conviction

14/10/2022

Sovereign wealth funds from the UAE, Kuwait and Norway, along with Abrdn, HSBC, Standard Life and others are among the claimants.

Credit Risk

Taiwan Allows Insurers to Reclassify Assets Using IFRS 9

14/10/2022

Reclassification of assets under IFRS 9 will enable insurers to mitigate the effects of rate hikes on their financial ratios.

Trading & Investment

CME Confirms 14 April 2023 for Conversion of Eurodollar F&O

14/10/2022

CME will amend its eurodollar futures and options fallback rules to set the conversion date to 14 April 2023.

Anti-Money Laundering

Switzerland to Commence Work on Creating UBO Register

14/10/2022

A bill will be drafted by mid 2023 to create a central beneficial ownership register that will be accessible to authorities.