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| Asia

MAS finalises framework for stablecoin issuance and intermediation

The MAS has published new requirements for issuers of Singapore single-currency stablecoins as it finalises its wider regulatory approach in the area. The regulator has set out specific requirements for…

| Asia

Asia Newsletter | August 2023

NEWSLETTER: We have a bumper edition of our Asia newsletter this month. It’s a reflection of just how busy the regulators have been both in Hong Kong and Singapore –…

| Asia

Streamlined approach introduced for HK professional investors

Hong Kong’s new ‘Streamlined Approach’ potentially makes life easier for professional investors and licensed corporations alike. It simplifies procedures and allows firms to tailor their services to these investors’ specific…

| Asia

Changjiang fine highlights importance of client asset protection

The SFC has reprimanded and fined Changjiang Asset Management (HK) Limited HK$ 3.4 million for regulatory breaches and internal control failings, related to client assets. The Securities and Futures Commission…

| Asia

Taiping Securities hit with HK$1.3 million penalty for employee dealing failures

The SFC’s fine against Taiping Securities Co Limited (TSCL) for significant shortcomings in their internal control mechanisms related to employee dealings, signaling continued regulatory focus. The SFC investigation, spanning January…

| Asia

Crypto asset segregation and custody regulations to go live in October

MAS has issued response to its October 2022 consultation paper on Proposed Regulatory Measures for Digital Payment Token Services. The response (Part 1) focuses on the requirements for segregation and…

| Asia

MAS bolsters integrity of crypto markets

The MAS has issued a consultation paper proposing regulatory measures and prohibitions against unfair trading practices to address market integrity risks in digital payment token services. The proposed measures focus…

| Asia

Strengthening investor protection: Requirements for VATPs

The SFC has finalised the regulatory requirements for licensed virtual asset trading platforms to enhance investor protection and establish proper governance. These changes emphasise the importance of investor protection and…

| Asia

Asia Newsletter | June 2023

NEWSLETTER: I’m pleased to report that I have not yet been replaced by an AI chatbot, but the recent launch of proposed regulations in Europe on safe use of artificial…

| Asia

SFC clarifies AML definitions and introduces virtual asset guidance

The SFC has revised its anti-money laundering and counter-financing of terrorism guideline to incorporate provisions and guidance related to the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022 which was…

| Asia

MAS finalises changes to harmonise OTC derivatives reporting standards

The MAS has issued the anticipated response to its 2021 consultation paper on proposed amendments to the reporting of OTC derivatives contracts. The paper addresses the industry feedback and lays…

| Asia

MAS consults on amendments to Payment Services Regulations

The MAS has issued a consultation paper proposing amendments to the Payment Services Regulations 2019 and related notices (Notices), as well as proposing new regulations on exemptions. These will operationalise…
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