Asia Pacific Financial Services Regulatory Updates, Quarter One 2025

The Deloitte Asia Pacific Centre for Regulatory Strategy is pleased to share with you the key regulatory updates from our region for Q1 2025.

Data & technology was a key theme which AP regulators addressed in Q1. Regulatory bodies across the region have introduced frameworks to harness the potential of emerging technologies while mitigating associated risks. For example, the Hong Kong Monetary Authority (HKMA) launched the Supervisory Incubator for Distributed Ledger Technology (DLT) on 8 January 2025. This initiative is designed to assist banks in integrating DLT with existing systems, with a particular focus on tokenised deposits.

Financial crime remained a significant regulatory priority this quarter. In Australia, the Australian Securities and Investments Commission (ASIC) published a letter on 30 January 2025, calling on superannuation trustees to strengthen anti-scam practices. The letter outlined specific guidance for trustees, including conducting preliminary assessments of anti-scam measures and considering the allocation of scam and fraud management to an Accountable Person. In China, the overhauled Anti-Money Laundering (AML) Law took effect on 1 January 2025, introducing sweeping reforms to align with global standards and address evolving financial crime risks.

Financial risk-related regulations, particularly in the insurance sector, has been a key focus for AP regulators. In China, the National Financial Regulatory Administration (NFRA) issued Guidelines on Supervision of Concentration Risks for Insurance Groups on 26 January 2025. These guidelines aim to standardise and enhance risk management practices, based on principles of prudence, matching, uniformity, and dynamism. The guidelines outline clear roles and responsibilities for the board, senior management, and lead departments, ensuring thorough and consistent risk management.