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In AML & Financial Services Regulatory

Australia: Treasury Moves to Strengthen MIS Governance Standards

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On 10 February 2026, the Treasury released the ‘Enhancing oversight and governance of managed investment schemes’ consultation paper. The Consultation Paper proposes to strengthen retail consumer protections and improve stability and confidence in the superannuation and financial services sectors, predominantly through strengthening governance and capital holding requirements for registered MISs.
The Consultation Paper also considers measures such as waiting periods for superannuation switches and constraints on inappropriate advice related fees.
Ultimately, the measures proposed in the Consultation Paper aim to prevent harm to retail consumers stemming from poor governance practices, whilst maintaining investor confidence in the Australian financial system.

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In Cybersecurity, Data and Tech

Australia: Landmark Penalty for Cyber Security Failures

by , , and 5 Mins Read

The Federal Court of Australia in Australian Securities and Investments Commission v FIIG Securities Limited [2026] FCA 92 has ordered FIIG Securities Limited (FIIG) to pay a penalty of AUD 2.5 million plus AUD 500,000 in costs in response to proceedings brought by the Australian Securities and Investment Commission (ASIC) in March 2025 for cyber security failures in breach of FIIG’s general Australian Financial Services Licence (AFSL) obligations between March 2019 and June 2023.

In AML & Financial Services Regulatory

Malaysia: Securities Commission Clarifies Requirements on Digital Asset Broking

by 3 Mins Read

On 30 January 2026, the Securities Commission Malaysia provided clarity on the regulatory framework governing the offering of broking services for digital assets. Malaysia’s securities regulator clarified that licensed securities brokers may offer digital asset broking where the assets fall within existing securities rules, provided they notify the regulator, confirm operational readiness, and trade only in approved digital assets.

In Tax

South Korea: Introduction of Attorney-Client Privilege

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On 29 January 2026, the Korean National Assembly passed an amendment introducing statutory attorney-client privilege, granting attorneys and clients the right to protect confidential legal communications and related materials. The amendment is expected to meaningfully affect tax audits, investigations, and appeals by offering stronger protection against broad document requests and the use of privileged materials.

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In Anti-Corruption

Singapore imposes sanctions against Israeli settlers

by , and 2 Mins Read

On 21 November 2025, Singapore announced targeted sanctions against four Israeli settlers for involvement in violence against Palestinians in the West Bank. The measures include financial restrictions and entry bans, with compliance enforced by the Monetary Authority of Singapore (MAS).
Key terms require financial institutions to freeze all funds and assets, prohibit any transactions or services, and ensure no resources are made available to the designated individuals. Non-financial businesses have no direct obligations, but any dealings routed through Singapore’s financial system will be blocked.
This action reflects Singapore’s growing use of autonomous sanctions as part of its foreign policy, signalling stricter enforcement against individuals linked to regional conflicts.

In Tax

Vietnam and United States: Framework for an Agreement on Reciprocal, Fair, and Balanced Trade

by and 2 Mins Read

On 26 October 2025, the United States and Vietnam concluded a framework agreement aimed at establishing reciprocal, fair, and balanced trade relations. The final commitments are expected to be signed and ratified by both parties before the end of 2025.
This framework introduces comprehensive commitments across digital trade, services and investment, intellectual property, labor, environment, customs and trade facilitation, regulatory practices, and state-owned enterprise conduct. It includes reciprocal tariff arrangements, preferential market access for US exports, and the removal of technical barriers affecting US goods. These developments reflect a strategic effort to deepen bilateral economic cooperation while aligning regulatory standards and market access terms.

In AML & Financial Services Regulatory

Taiwan: Amendment to Personal Data Protection Act

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On 17 October 2025, Taiwan’s Legislative Yuan passed amendments to the Personal Data Protection Act (PDPA), establishing the Personal Data Protection Commission (PDPC) as the new supervisory authority for personal data matters.
These changes respond to a 2022 Constitutional Court ruling and aim to strengthen independent oversight while enhancing data protection standards across both public and private sectors.
Key updates include mandatory appointment of Data Protection Officers (DPOs) for government agencies, new breach notification and reporting obligations for non-government entities, expanded inspection powers for the PDPC, and a six-year transition period for certain supervisory functions.
The PDPC will also issue baseline security regulations and serve as the appeals body for administrative decisions. The effective date will be set by the Executive Yuan, with implementation expected in 2026.

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In Cybersecurity, Data and Tech

Vietnam: Releasing draft AI Law for comprehensive AI governance framework

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Vietnam’s draft AI Law, released for public consultation, aims to establish a comprehensive governance framework by January 2026. It introduces phased implementation, risk-based classification, role-driven accountability, and obligations for general-purpose AI. The law promotes innovation through incentives and sandboxes, and enforces strict penalties for violations, including revenue-based fines. Businesses in high-risk sectors like finance and health will face increased scrutiny. Stakeholders are urged to submit feedback before the National Assembly’s session on 20 October 2025.

In AML & Financial Services Regulatory

Australia: Australian Government moves to regulate digital asset and tokenised custody platforms

by , , and 6 Mins Read

On 25 September 2025, the Australian Government released draft legislation to regulate Digital Asset Platforms (DAPs) and Tokenised Custody Platforms (TCPs). The proposed law requires operators of these platforms to hold an Australian Financial Services Licence and comply with tailored disclosure, conduct, and licensing obligations. It aims to close regulatory gaps, enhance investor protection, and position Australia as a credible hub for digital asset innovation. Consultation on the draft closes on 24 October 2025.

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