Regulations Across ASEAN

Covering Financial Advice, Market Authorisation, Bank Negara Malaysia, Domestic Systemically Important Banks, Striking Off. Explore key updates on Domestic Systemically Important Banks, financial advice frameworks, Bank Negara Malaysia legislation, and striking off procedures in Singapore and Malaysia’s regulatory landscape.

Show Notes

This episode delves into recent regulatory developments across ASEAN, focusing on financial advice reforms, market authorisation updates, and significant regulatory measures affecting Domestic Systemically Important Banks (DSIBs). It also covers striking off procedures and legislative clarifications from Bank Negara Malaysia.

Major updates include Singapore’s Monetary Authority introducing proposed Total Loss Absorbing Capacity (TLAC) requirements for local and foreign DSIBs to strengthen loss absorption and recapitalisation capabilities. Another critical update is MAS concluding consultations on enhanced Product Highlights Sheets and a streamlined framework for complex financial products, removing mandatory financial advice for most investors but retaining it for selected clients.

Additionally, Singapore’s Official Receiver has issued a notice for the striking off of Global Paris Group Pte. Ltd. under the simplified winding-up programme, highlighting procedural timelines for objections and court applications. The Audit Oversight Board in Malaysia emphasizes the importance of accurate disclosures in annual reports to maintain investor confidence, while Bank Negara Malaysia provides a comprehensive overview of key financial legislation.

For more information, visit the Carver Agents website.

Articles mentioned:
  1. Consultation Paper on Proposed Total Loss Absorbing Capacity Requirements for Domestic Systemically Important Banks in Singapore
  2. Jakarta Bergerak Bersama, Pilah Sampah dari Sumber Jadi Budaya Baru Warga Kota
  3. AOB’s Oversight Activities – May 2026
  4. 15-May-2026 Notice of Striking Off for Simplified Winding Up Programme
  5. Using assessments from comparable overseas regulators for medical devices
  6. Supervisory Framework
  7. MAS Concludes Consultation on Enhancements to Product Highlights Sheets and Streamlined Framework for Complex Products
  8. Laws Administered by BNM
  9. Indonesia advances plan to curb marine plastic pollution
  10. Indonesia advances plan to curb marine plastic pollution

What is Regulations Across ASEAN?

Regulatory news, updates, and insights for countries in the ASEAN region presented by the Carver Agents team

Welcome to Carver's ASEAN Regulatory Updates for May 17, 2026.

In Singapore, the Monetary Authority of Singapore has introduced a consultation paper on proposed Total Loss Absorbing Capacity requirements for Domestic Systemically Important Banks, or DSIBs. Local bank DSIBs will be required to maintain external TLAC at 14 percent of risk-weighted assets. Foreign bank DSIBs must hold internal TLAC between 75 to 90 percent of their standalone external TLAC requirement. Common Equity Tier 1 capital used for the capital conservation buffer will no longer count towards TLAC. These measures aim to enhance the loss absorbing and recapitalisation capacity of DSIBs, facilitating orderly resolution and minimizing reliance on public funds.

Also in Singapore, the Monetary Authority of Singapore has concluded its consultation on enhancements to Product Highlights Sheets and a streamlined framework for complex products. The updated framework removes the mandatory financial advice requirement for most investors purchasing complex products, except for 'Selected Clients' who require additional protection. Investment-linked policies are now classified as complex products requiring Product Highlights Sheets with clearer labelling. Pre-transaction alerts will be introduced for all investors to highlight product complexity and suitability. Financial advice remains mandatory for 'Selected Clients'.

Singapore’s Official Receiver has issued a notice dated May 15, 2026, regarding the simplified winding-up programme. The Official Receiver intends to inform the Registrar of Companies to strike off Global Paris Group Pte. Ltd. unless objections are received within 30 days. Objections must be submitted within this period, and applications to the Court for winding up must be made before the expiration of the objection period.

Turning to Malaysia, the Audit Oversight Board has highlighted concerns over frequent errata and rectifications in annual reports of public listed companies. The Board stresses the roles and responsibilities of auditors, directors, and audit committees in ensuring accuracy and completeness of disclosures. Frequent errata undermine investor confidence and signal weaknesses in oversight and governance, increasing regulatory and reputational risks. The Board urges strengthening the finance function with qualified personnel, clear accountability, and allocating sufficient time for review of financial statements and annual reports before issuance.

The Bank Negara Malaysia has also provided a summary of key legislation governing financial regulation in Malaysia, including dates of coming into force and latest amendments for various Acts. This update clarifies the legal basis and scope of regulatory powers and enforcement for financial institutions and related entities, emphasizing compliance with licensing, supervision, and regulatory requirements under each Act.

In Indonesia, the government is advancing plans to curb marine plastic pollution with a draft Port Waste Management Plan for the Port of Tanjung Priok. This plan aims to manage ship-generated waste in compliance with MARPOL Annex V and International Maritime Organization guidance. The plan requires the development and adoption of Port Waste Management Plans for ports, ensuring safe and efficient management of ship-generated waste, and establishing port reception facilities for waste discharge. The adoption of this plan is pending approval by an interministerial committee.

Also in Indonesia, a new initiative called Jakarta Bergerak Bersama has introduced a waste sorting culture starting from households, offices, and business centers. Waste is categorized into organic, inorganic, household hazardous waste, and residue. From August 1, 2026, the Bantargebang landfill will only accept residue waste. All Jakarta regions must implement waste sorting from the source, and offices, markets, restaurants, and malls are required to manage their own waste using existing waste sorting facilities consistently.

That wraps up today's regulatory updates. Visit carveragents.ai for more information.