OTHER ASIA PACIFIC

Securities / Derivatives

Myanmar to Open Stock Market to Foreign Nationals in Phases

By Editors | 24/10/2019

The SECM has decided to open the stock market only to foreign nationals living in Myanmar for the time being, but a new board planned for Q3 2020 will reportedly allow foreigners to trade freely.

Market Infrastructure

Philippines to Adopt QR Codes for Payments Nationally

By Editors | 24/10/2019

Once the national QR code standard is established, bank and non-bank payment providers will have 30 days for adoption. Those already offering QR-enabled payments will have until mid-2020.

Fintech / Regtech

Thailand SEC Approves First ICO Portal

By Editors | 23/10/2019

Under Thailand’s regulatory framework, ‘ICO portals’ help screen ICOs, conduct due diligence, prove smart contract source codes and verify KYC processes before they are released to the market.

AML / KYC

FATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain

By Editors | 23/10/2019

Sri Lanka has made “significant progress” to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.

Capital / Liquidity

BSP Reduces Reserve Requirement for Bank Bonds

By Editors | 18/10/2019

The move to lower is aimed at deepening the debt market and reducing the intermediation cost that bond issuers could pass on to bond holders.

Capital / Liquidity

Philippines: BSP Approves Amended D-SIBs Framework

By Editors | 16/10/2019

A bank’s size and interconnectedness will be given greater importance in the assessment to determine its systemic importance in the Philippines.

AML / KYC

Philippines Makes Push to End Bank Secrecy

By Editors | 15/10/2019

BSP governor Benjamin Diokno has said the central bank wants to help convince lawmakers of the importance of lifting bank secrecy as part of a bill to grant amnesty to errant taxpayers.

Big Picture

China, Indonesia Lead Emerging Markets in Sustainable Banking

By Manesh Samtani | 14/10/2019

China and Indonesia have demonstrated pioneering policy actions and regulatory initiatives, resulting in changing practices at financial institutions, the Sustainable Banking Network says.

Market Infrastructure

BOJ Deputy Governor Calls for Collective Action on LIBOR Transition

By Manesh Samtani | 13/10/2019

LIBOR’s permanent discontinuation will be one of the “most significant events in global financial history”, BOJ deputy governor Masayoshi Amamiya said at ASIFMA’s Annual Conference.