Regulatory Updates August 2025 – APAC Region

      Singapore

      26 August 2025 – Enforcement Actions image/svg+xml Atoms / Icons / plusExpand

      On 26 August 2025, the Monetary Authority of Singapore (MAS) issued prohibition orders against three individuals for unauthorised access to bank customer information. They were issued prohibition orders of 3-6 years each. Under the terms of the prohibition order, they are essentially barred from working in, managing, or owning significant shares of MAS regulated institutions.

      One of the offenders had made unauthorised searches using the bank’s customer information system to check personal details of friends and relatives. In addition, he also assisted the two other offenders to conduct unauthorized searches via the customer information system.

      To view the enforcement actions, please click here.

      Read more
      29 August 2025 – Consultation Paper on Proposed Guidelines on Liquidity Risk Management for Banks, Merchant Banks and Finance Companies image/svg+xml Atoms / Icons / plusExpand

      On 29 August 2025, the MAS issued a consultation paper on a new set of guidelines targeted at liquidity risk management for banks, merchant banks and finance companies (banks). The current set of guidelines – Guidelines on Risk Management Practices – Liquidity Risk were issued in 2013 and applicable to all financial institutions, including banks.

      This set of updated Guidelines provide greater clarity on MAS’ supervisory expectations on the management of liquidity risk by banks. They are consistent with the Principles for Sound Liquidity Risk Management and Supervision by the Basel Committee on Banking Supervision and have incorporated observations from MAS’ past reviews and supervisory engagements as well as lessons learnt from past liquidity events.

      The consultation closes on 29 September 2025 and industry partners are invited to provide written responses to the MAS.

      To view the Consultation Paper, please click here.

      Read more

      Hong Kong

      15 August 2025 – Circular on Virtual Asset Custody Standards image/svg+xml Atoms / Icons / plusExpand

      On 15 August 2025, the Securities and Futures Commission (SFC) issued a circular to licensed virtual asset trading platform operators regarding the custody of virtual assets. The circular provides detailed guidance and sets minimum standards for SFC-licensed virtual asset trading platform operators and their associated entities (collectively, “Platform Operators”) to ensure the safe custody of client virtual assets. Prompted by recent overseas cyber security incidents that exposed critical vulnerabilities in wallet systems, the circular emphasises the need for robust security measures, governance frameworks, and operational controls to protect client assets (circular).

      The circular aligns with Initiative 3 of the SFC’s ASPIRe roadmap, advocating a technology-neutral, outcome-based approach to custody technologies that prioritize resilient control environments over specific hardware mandates. It outlines requirements in areas such as senior management oversight, cold wallet infrastructure and operations, third-party provider management, real-time threat monitoring, and staff training. Additionally, it provides non-mandatory best practices to support compliance.

      Platform Operators must integrate these standards into their custody frameworks and annual compliance assessments, with ongoing engagement with SFC case officers for any queries.

      To view the circular, please click here.

      Read more

      Stay informed with our Regulatory Update

      Navigate the ever-evolving regulatory landscape with our Regulatory Update. Our team of compliance experts provide a monthly review of a wide range of global regulatory compliance matters including, news, guidelines and significant updates. To sign-up please follow the link below.

      Find out more

      Previous post Next post
      Share

      More like this

      Phishing Detection and Prevention: Key Takeaways from the SFC Circular

      As phishing scams continue to impact clients and markets in 2025, the Securities and Futures Commission (SFC) issued a circular…
      Read more

      SFC Enhances Facilitative Measures for Visiting Professionals

      On 15 July 2025, the Securities and Futures Commission (SFC) issued a circular announcing enhanced measures to facilitate visiting professionals…
      Read more

      SFC Resumes Collection of Annual Licensing Fees

      The Securities and Futures Commission (SFC) issued a circular announcing the resumption of annual licensing fee collections for intermediaries and…
      Read more

      Regulatory Updates July 2025 – APAC Region

      This APAC Regulatory Update includes MAS issues guidance for financial institutions on managing technology and cyber risks from third-party service…
      Read more

      Preparing for an SFC Inspection: A Guide for Licensed Corporations

      As a corporation licensed by the Securities and Futures Commission (SFC) in Hong Kong, strict adherence to regulatory requirements is…
      Read more

      MAS Tightens AML/CFT Rules: Key Changes Every Financial Institution Must Know

      On 30 June 2025, the Monetary Authority of Singapore (MAS) published its finalised response to consultation feedback on proposed amendments…
      Read more
      Contact us