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Crypto / Digital Assets
NYDFS Sets Out Proposals to Charge Crypto Firms for Supervision
By Editors | 08/12/2022
The 22 crypto companies with a New York BitLicense will be subject to assessments to determine supervisory and examination costs.
Fintech / Regtech
CFTC Goes Live With New Swap Data Reporting Requirements
By Editors | 07/12/2022
The changes introduce new and updated data fields to drive the submission of more standardised trade data, largely based on the CDE developed by CPMI and IOSCO.
Crypto / Digital Assets
SEC Thailand to Tighten Conflict Management Rules for ICO Portals
By Editors | 06/12/2022
Under the revised rules, ICO portals will also be allowed to outsource certain tasks to service providers, as long as they are not ‘core’ services.
ESG / Sustainability
Fed Board Proposes Climate Risk Framework for Large US Banks
By Editors | 06/12/2022
One governor said he disagrees with the premise that climate change poses a serious risk to large banks and US financial stability because stress tests show the banks are resilient.
Market Infrastructure
HKTR Announces Transitional Arrangement to Accommodate UTI Reporting
By Editors | 05/12/2022
Due to different UT adoption timelines across jurisdictions, reporting entities are allowed to report the UTI in any of the data fields of “UTI-USI”, “UTI-TID” or “Global UTI”.
Sanctions
US, Korea, Japan Sanction DPRK Over Missile Tests
By Manesh Samtani | 05/12/2022
The sanctions were imposed in response to recent ballistic missile tests, including one that had enough range to reach the US mainland.
AML / KYC
US Court Dismisses Remaining Charges Against Huawei CFO
By Editors | 05/12/2022
The charges against Meng Wanzhou were dismissed as part of her September 2021 deferred prosecution agreement.
ESG / Sustainability
Florida to Divest $2bn from BlackRock Over ESG Objections
By Editors | 05/12/2022
Florida CFO Jimmy Patronis describes BlackRock’s ESG strategy as a “social-engineering project” that has “nothing to do with maximizing returns”.
AML / KYC
US Banks Preparing to Accept More Liability for Zelle Frauds
By Editors | 04/12/2022
Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.
Enforcement
US Financial Firms to Spend $18bn on Surveillance Tech This Year
By Editors | 03/12/2022
The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.
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