Structural Regulation

UK to Codify Tax Exemptions for Sovereign Investors into Law

05/07/2022

The proposals seek to ensure the tax exemptions provided to sovereign investors are more targeted towards investment rather than trading income.

Anti-Money Laundering

AUSTRAC Issues Update on Reporting System Enhancements

05/07/2022

AUSTRAC has commenced development of a new CRM platform which will enable it develop enhanced self-service capabilities in AUSTRAC Online.

Clearing & Post-Trade

ASX Responds on Tranche 3 Rule Changes for CHESS Replacement

05/07/2022

The rule amendments will be subject to regulatory approvals. ASX proposes to lodge the combined rules package with ASIC in Q4 of calendar year 2022.

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.