Anti-Bribery & Corruption

CSRC Targets ‘Shadow Shareholders’ in New Guidelines

12/02/2021

A 36 month lock up period is being introduced for investors who purchase shares in companies within 12 months before their IPO applications.

Structural Regulation

Over 40 Parties to Apply for Digital Bank Licence: BNM

11/02/2021

Applications are being accepted until 30 June 2021, with BNM planning to award up to five licences in the first quarter of 2022.

Cloud & Infrastructure

FSC Korea to Allow Platform Operators Sell Insurance Products

11/02/2021

A new framework will be introduced to allow firms like Kakao and Naver to sell digital insurance products under sandbox-like conditions.

Trading & Investment

BSP Lowers Minimum Balance for Investment Management Accounts

11/02/2021

BSP Governor Benjamin Diokno said the revised regulations are aimed at expanding investment opportunities for the public.

Anti-Money Laundering

BSP Warns Banks Against Unlicensed Gaming Operators

11/02/2021

FIs should ensure they have robust risk management and due diligence frameworks in place to prevent transactions with illegal online gambling operators.

Market Abuse

SFC Freezes Brokerage Accounts Linked to Social Media Scam

11/02/2021

One of the SFC’s top priorities for the year is to crack down on ramp and dump scams and other types of market manipulation conducted through social media.

PEPs & Sanctions

US Imposes Sanctions Against Myanmar Military Leaders

10/02/2021

Joe Biden has approved a new executive order enabling the US to immediately sanction the military leaders who directed the 1 February coup in Myanmar.

Trading & Investment

BOJ Surpasses GPIF as Largest Holder of Japanese Equities

10/02/2021

In March 2020, the BOJ said it aims to buy at least JPY 6 trillion worth of ETFs a year with an upper limit set at JPY 12 trillion.

Cybersecurity

UPDATED: Over 100 Financial Firms Targeted by Single DDoS Attacker

10/02/2021

According to FS-ISAC, retail banking was the top target, accounting for 41% of the attacks, followed by exchanges at 15% and payments at 13%.