Skip to content

Subscribe to Asset Servicing & Fintech Insights

Discover more information in our monthly publication, the AXIS newsletter, including industry trends, product innovation, Fintech and more from our team of experts.

Asia Pacific Regulatory Developments Newsletter - Volume 1, 2021

Our regulatory newsletter highlights both the stability measures regulators are using in response to the pandemic with some countries entering a second or third wave and how they are continuing to deliver on their longer term plans.

By Tricia O’Donovan, Senior Consultant, Regulatory Solutions - EMEA & APAC,
Trent Richardson, Head of Products - Asia Pacific,
Lisa Chen, Senior Product Manager - Asia, and 
James Crane, Senior Product Manager - Australia

Regulators in the region continue to focus on the response to the COVID-19 pandemic as most countries have entered a second wave, some a third. To support this, measures on resiliency and stability continue to be introduced. Medium and longer term regulatory priorities are being reviewed and the balance between supervision and recovery will no doubt become a topic of discussion over the coming months. However regulators will continue to focus on governance, management, conduct and oversight frameworks as an increased focus on culture and accountability remains. Regulators’ attention on emerging risks, including sustainability risk measures with developments introduced across the region continuing to take pace.

Taxonomies and disclosures as measures to reduce greenwashing are at the forefront while ensuring sustainability is considered in investment decision making or provision of financial advice. In a trend similar to Europe, climate stress testing is being introduced, with the Hong Kong Monetary Authority inviting authorised institutions to participate in a climate risk stress test to be undertaken in 2021.

Financial crime remains a hot topic and developments in the Anti-Money Laundering (AML) and Combatting the Finance of Terrorism (CFT) regulatory space continue to be in the spotlight with a renewed focus on the risks applicable to crypto assets continuing to emerge. The acceleration of the digital agenda cannot be ignored and we are seeing a response from regulators in the region not just focusing on AML/CFT but also looking at overall digital operational resilience.

Download our newsletter to learn more.


Key developments covered in this edition include the European Union's Sustainable Finance Disclosure Regulation, the new prudential regime for investment firms and the final push towards transition away from interbank offer rates.

In the latest edition of our regulatory newsletter, we discuss the SEC’s fund shareholder disclosure, update to their approach for regulating derivatives and ETFs, and the approved fair valuation rule. We also provide you with updates to CSDR and LIBOR.

© 2021 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. This material is directed to professional clients only and is not intended for retail clients. For Asia-Pacific markets, it is directed to expert, institutional, professional and wholesale clients or investors only and should not be relied upon by retail clients or investors.For legal and regulatory information about our offices and legal entities, visit The following information is provided to comply with local disclosure requirements: The Northern Trust Company, London Branch; Northern Trust Global Investments Limited; Northern Trust Securities LLP. Northern Trust Global Services SE, 10 rue du Château d’Eau, L-3364 Leudelange, Grand-Duché de Luxembourg, RCS B232281; Northern Trust Global Services SE UK Branch, 50 Bank Street, London E14 5 NT; Northern Trust Global Services SE Sweden Bankfilial, Ingmar Bergmans gata 4, 1st Floor, 114 34 Stockholm, Sweden; Northern Trust Global Services SE Netherlands Branch, Viñoly 7th floor, Claude Debussylaan 18 A, 1082 MD Amsterdam; Northern Trust Global Services SE Abu Dhabi Branch, registration Number 000000519 licenced by ADGM under FSRA # 160018. The Northern Trust Company Saudi Arabia, PO Box 7508, Level 20, Kingdom Tower, Al Urubah Road, Olaya District, Riyadh, Kingdom of Saudi Arabia 11214-9597, a Saudi Joint Stock Company – Capital 52 million SAR. Regulated and Authorised by the Capital Market Authority License # 12163-26 CR 1010366439. Northern Trust (Guernsey) Limited (2651)/Northern Trust Fiduciary Services (Guernsey) Limited (29806)/Northern Trust International Fund Administration Services (Guernsey) Limited (15532) Registered Office: Trafalgar Court, Les Banques, St Peter Port, Guernsey GY1 3DA. Northern Trust International Fund Administration Services (Ireland) Limited (160579) / Northern Trust Fiduciary Services (Ireland) Limited (161386),  Registered Office: Georges Court, 54-62 Townsend Street, Dublin 2, D02 R156, Ireland.