Covering six key priorities related to digital assets. While this does not constitute a change in policy, it does highlight the administration’s desire to encourage both regulation and innovation in this space.
With 45 days to go before the 4 November 2022 compliance date, the Division of Examinations on 19 September published a Risk Alert reminding investment advisers of their obligation to comply with the amendments to Advisers Act Rule 206(4)-1 (“Marketing Rule”) as of the compliance date, and identifying review areas for SEC examinations.
Bank Indonesia has launched a cooperation with the Bank of Thailand that enables consumers and merchants in both countries to make and accept instant cross-border quick response (QR) payments for goods and services. This is in line with the principles of the ASEAN Central Bank Governors’ Meeting in April 2022 (which is one of Indonesia’s G20 Presidency Events) and Indonesia’s Payment System 2025 Visions. The Quick Response Indonesian Standard (QRIS) and Thai QR codes will be used in this cooperation.
The China Banking and Insurance Regulatory Commission (CBIRC) issued the Rules on Insurance Asset Management Company (New Rules) after extensive consultation on 05 April 2022. These will come into force on 01 September 2022.
On 21 June 2021, the first batch of four real estate investment trust funds in the field of infrastructure (REITs) were successfully listed at Shenzhen Stock Exchange (SZSE). Over the past year, these products have operated smoothly, the supporting system has been continuously improved, investors have actively participated, and the market function has been gradually brought into play— realizing the phased targets of “a stable and good start”. In June 2022, the relevant person in charge of SZSE said that SZSE will promote the high-quality development of the infrastructure REITs market from five aspects, one of which is “continue to support QFII and RQFII to invest in domestic REITs products”.
The digital assets industry in Thailand has been growing significantly between 2021 and 2022, as more big players in the traditional financial industry and startup players enter the digital assets market. Despite the price volatility and regulatory complexities, the country has seen a rise in crypto-related activities.