[ASEAN] Key Regulatory Developments in Competition, Import, and Trade Compliance

[ASEAN] Key Regulatory Developments in Competition, Import, and Trade Compliance

This episode covers critical regulatory updates affecting key ASEAN sectors, including Import Supervision, Drug Regulation, Anti-Dumping, Competition Compliance, and Compliance Programs. Listeners will gain insight into Indonesia’s Competition Commission (KPPU) enforcement actions emphasizing competition compliance program approvals and strict merger notification requirements. Additionally, the Indonesian Food and Drug Supervisory Agency has initiated a public consultation on amendments to drug and food import regulations, impacting import controls across multiple product categories. In Malaysia, anti-dumping duty rates have been inherited by successor companies, ensuring continuity of trade remedies on copolymer polyoxymethylene imports. Meanwhile, the US Trade Representative has proposed tariffs on certain Philippine exports in response to forced labor enforcement concerns. For more information, visit the Carver Agents website [https://carveragents.ai]. Articles mentioned: 1. Penetapan [https://kppu.go.id/penegakan-hukum/penetapan] 2. Rancangan Peraturan Badan Pengawas Obat dan Makanan tentang Perubahan Kedua atas Peraturan Badan Pengawas Obat dan Makanan Nomor 27 Tahun 2022 tentang Pengawasan Pemasukan Obat dan Makanan ke Dalam Wilayah Indonesia [https://jdih.pom.go.id/draft/detail/1752/Rancangan%20Peraturan%20Badan%20Pengawas%20Obat%20dan%20Makanan%20tentang%20Perubahan%20Kedua%20atas%20Peraturan%20Badan%20Pengawas%20Obat%20dan%20Makanan%20Nomor%2027%20Tahun%202022%20tentang%20Pengawasan%20Pemasukan%20Obat%20dan%20Makanan%20ke%20Dalam%20Wilayah%20Indonesia] 3. Philippines faces up to 12.5% US tariff after forced-labor probe [https://mb.com.ph/2026/06/03/philippines-faces-up-to-125-us-tariff-after-forced-labor-probe] 4. Regional Comprehensive Economic Partnership (RCEP) [https://fta.mofcom.gov.cn/topic/enperu_recp.shtml] 5. Pengumuman Pengajuan Keberatan Nasabah Penyimpan atas Penetapan Status Penjaminan Simpanan Nasabah PT BPR Pembangunan Nagari [https://lps.go.id/pengumuman-17-gklm-2026-pengajuan-keberatan-nasabah-penyimpan-atas-penetapan-status-penjaminan-simpanan-nasabah-pt-bpr-pembangunan-nagari-dl/] 6. 商务部公告2026年第22号 公布对原产于韩国、泰国和马来西亚的进口共聚聚甲醛反倾销措施相关企业税率继承的决定 [https://www.mofcom.gov.cn/zcfb/blgg/art/2026/art_1e84019c9e33452e92e6ec705c62af71.html] 7. FAQ [https://kppu.go.id/media-publikasi/faq] 8. Penilaian M&A [https://kppu.go.id/penegakan-hukum/penilaian] 9. Daftar Larangan Tender [https://kppu.go.id/tentang-kami/pengumuman/daftar-larangan] 10. Notifikasi Merger [https://kppu.go.id/layanan-publik/notifikasi-merger]

[ASEAN] Regulatory Insights on AI, AML, Capital Markets & Environmental Compliance

This episode covers critical regulatory updates across Compound, AML, Receipt Issuance, Capital Markets, and Artificial Intelligence sectors within ASEAN. Among the highlights, IOSCO has launched a comprehensive Supervisory Toolkit addressing governance and risk management for AI systems in capital markets, emphasizing transparency and investor protection. Singapore's National Environment Agency is implementing new emission reduction standards for refrigeration and air-conditioning equipment, with phased compliance starting in 2027. Additionally, MAS issued guidance to financial institutions on risk-proportionate client Source of Wealth verification to enhance AML processes, alongside efforts to maintain Singapore’s stature as a trusted gold trading hub. For more information, visit the Carver Agents website [https://carveragents.ai]. Articles mentioned: 1. IOSCO publishes AI Supervisory Toolkit [https://www.iosco.org/news/pdf/IOSCONEWS796.pdf] 2. $8,000 Fine for Illegal Dumping Along Joo Yee Road [http://www.nea.gov.sg/media/news/advisories/index/8-000-fine-for-illegal-dumping-along-joo-yee-road] 3. P.N. 10/2026 [https://www.bnm.gov.my/-/eapn102026] 4. NEA To Introduce Measures To Further Reduce Emissions From Refrigeration And Air-Conditioning Equipment [http://www.nea.gov.sg/media/news/news/index/nea-to-introduce-measures-to-further-reduce-emissions-from-refrigeration-and-air-conditioning-equipment] 5. Opening Remarks by Mr Chia Der Jiun, Managing Director, Monetary Authority of Singapore at the UBS Asian Investment Conference, Singapore Wealth Edition, on 25 May 2026 [https://www.mas.gov.sg/news/speeches/2026/opening-remarks-by-mr-chia-der-jiun-md-mas-at-ubs-asian-investment-conference] 6. Welcome Remarks at Launch of the Social Exchange [https://www.sc.com.my/resources/speeches/welcome-remarks-at-launch-of-the-social-exchange]

Bank Indonesia 50bps Rate Hike, MAS Revokes Bsquared Payment Licence & Singapore Insider Trading Convictions — ASEAN RegWatch May 24, 2026

This week's ASEAN RegWatch  Covers 5 regulatory developments across Indonesia and Singapore - defined by monetary policy tightening & MAS enforcement action. * In Indonesia,  * Bank Indonesia raised the BI-Rate by 50 basis points to 5.25 percent, with Deposit Facility and Lending Facility rates increased by the same margin.  * The central bank is intensifying foreign exchange intervention through non-deliverable forwards and spot transactions, raising yields on Bank Indonesia Rupiah Securities to counter capital outflows, and easing macroprudential policy via the Macroprudential Intermediation Ratio and Liquidity Incentive Policy from July and August 2026. * In Singapore,  * The Monetary Authority of Singapore revoked the Major Payment Institution Licence of Bsquared Technology Pte Ltd effective May 14, 2026, under the Payment Services Act, prohibiting all digital payment token services.  * Bsquared must submit an auditor closure certificate confirming all customer monies are properly handled.  * MAS cited failures in regulatory integrity, risk management, and accuracy of information provided to the regulator. * Also in Singapore,  * Two individuals were convicted under the Securities and Futures Act for false trading and insider trading. MAS and Singapore Police jointly prosecuted — confirming that market integrity breaches carry criminal consequences, not just civil penalties. * At the regional level,  * The World Anti-Doping Agency signed a three-year Memorandum of Understanding with ASEAN to harmonise national anti-doping policies and support implementation of the 2027 World Anti-Doping Code across member states. Essential listening for CCOs, payment institution compliance officers, treasury and capital markets leads, and risk officers across Indonesia, Singapore, and the broader ASEAN region. Carver RegWatch delivers weekly regulatory intelligence across jurisdictions. Published May 24, 2026. For more information, visit the Carver Agents website [https://carveragents.ai/]. Also from Carver RegWatch this week: * This Week in AI Regulations — EU AI Act high-risk classification guidelines, CNIL €487M record fines, China AI deepfake enforcement * USA Regulatory Updates — SEC novel ETF regulatory review, California Hermes Bitcoin kiosk enforcement, IOSCO AI supervisory toolkit * EU Regulatory Updates — EU AI Act consultation deadline June 23, CNIL cybersecurity enforcement priorities 2026, EU Solidarity Fund climate allocation * Middle East RegWatch — OFAC Adani $275M Iran sanctions settlement, OFAC Amin Exchange designation, UAE Drupal CVE-2026-8495 cybersecurity alert * India Regulatory Updates — RBI restricts Nagar Sahakari Bank, RBI cancels Yashwant Co-operative Bank licence, SEBI Investor Onboarding Regulatory Sandbox * Global Regulatory Briefing — Bank of England CCP resolution paper, Malta tokenisation consultation, ASIC sustainability reporting focus 2026-27 Find all series at The Carver Agents Podcast [https://carveragents.ai/podcasts] Articles mentioned: 1. BI-Rate Increased by 50 bps to 5.25%: Strengthening Stability, Supporting Economic Growth [https://www.bi.go.id/en/publikasi/ruang-media/news-release/Pages/sp_2810726.aspx] 2. Two Individuals Convicted for Offences under the Securities and Futures Act [https://www.mas.gov.sg/regulation/enforcement/enforcement-actions/2026/two-individuals-convicted-for-offences-under-the-securities-and-futures-act] 3. First commenting round on a Detailed Review Paper on in vitro mammalian cell genotoxicity methods [https://www.oecd.org/en/events/public-consultations/2026/05/first-commenting-round-on-a-detailed-review-paper-on-in-vitro-mammalian-cell-genotoxicity-methods-based-on-the-phosphorylated-histone-biomarkers-h2ax-and-ph3.html] 4. Seventy-ninth World Health Assembly – Daily update: 19 May 2026 [https://www.who.int/news/item/19-05-2026-seventy-ninth-world-health-assembly---daily-update--19-may-2026] 5. MAS Revokes the Major Payment Institution Licence of Bsquared Technology Pte Ltd [https://www.mas.gov.sg/news/media-releases/2026/mas-revokes-the-major-payment-institution-licence-of-bsquared-technology-pte-ltd] 6. Bank Indonesia raises Bank Indonesia Rupiah Securities returns to counter capital outflows [https://jakartaglobe.id/business/bank-indonesia-raises-srbi-returns-to-counter-capital-outflows] 7. WADA signs three-year memorandum of understanding with ASEAN [https://asean.org/wada-signs-three-year-memorandum-of-understanding-with-asean/]

[ASEAN] Regulatory Insights on DSIBs, Financial Advice & Striking Off

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 [https://carveragents.ai]. Articles mentioned: 1. Consultation Paper on Proposed Total Loss Absorbing Capacity Requirements for Domestic Systemically Important Banks in Singapore [https://www.mas.gov.sg/publications/consultations/2026/consultation-paper-on-proposed-tlac-requirements-for-dsibs-in-singapore] 2. Jakarta Bergerak Bersama, Pilah Sampah dari Sumber Jadi Budaya Baru Warga Kota [https://lingkunganhidup.jakarta.go.id/detail-artikel/jakarta-bergerak-bersama-pilah-sampah-dari-sumber-jadi-budaya-baru-warga-kota] 3. AOB’s Oversight Activities – May 2026 [https://www.sc.com.my/api/documentms/download.ashx?id=ce0bd393-13c1-4d58-a639-60e0e73b6bcf] 4. 15-May-2026 Notice of Striking Off for Simplified Winding Up Programme [https://io.mlaw.gov.sg/files/SIP%20notices%202026/15_05_2026_Notice_of_Striking_Off.pdf] 5. Using assessments from comparable overseas regulators for medical devices [https://www.tga.gov.au/resources/guidance/using-assessments-comparable-overseas-regulators-medical-devices] 6. Supervisory Framework [https://www.mas.gov.sg/publications?topics=Prudential%20and%20Supervisory%20Requirements%2FSupervisory%20Framework] 7. MAS Concludes Consultation on Enhancements to Product Highlights Sheets and Streamlined Framework for Complex Products [https://www.mas.gov.sg/news/media-releases/2026/mas-concludes-consultation-on-enhancements-to-phs-and-streamlined-framework-for-complex-products] 8. Laws Administered by BNM [https://www.bnm.gov.my/legislation] 9. Indonesia advances plan to curb marine plastic pollution [https://www.imo.org/en/MediaCentre/Pages/WhatsNew-2451.aspx] 10. Indonesia advances plan to curb marine plastic pollution [https://www.imo.org/en/mediacentre/pages/WhatsNew-2451.aspx]

[ASEAN] Key Regulatory Moves in SSM, Jakarta, BPR & Foreign Affairs

This episode of Carver's ASEAN Regulatory Updates explores significant regulatory developments affecting sectors such as SSM enforcement in Malaysia, payment and objection processes in Indonesia’s BPR banking sector, and Jakarta’s environmental waste management policies. Key updates include the Indonesia Deposit Insurance Corporation (LPS) executing payments to depositors of PT BPR Koperindo Jaya and enabling objections for PT BPR Suliki Gunung Mas deposit guarantee statuses, enhancing depositor protection and transparency. In Jakarta, a new Governor Instruction mandates households to sort waste from the source starting August 2026, with Bantargebang Waste Processing Site limiting intake to residual waste only. Additionally, Malaysia’s SSM and Bank Negara Malaysia have jointly enforced actions against company secretaries for non-compliance with AMLA reporting obligations, highlighting the importance of regulatory adherence in corporate governance. The episode also discusses LPS’s preparation to activate a comprehensive insurance policy guarantee program aimed at stabilizing and growing Indonesia’s insurance market. For more information, visit the Carver Agents website [https://carveragents.ai]. Articles mentioned: 1. Pengumuman Pembayaran PT BPR KOPERINDO JAYA (DL) Tahap 2 [https://lps.go.id/pengumuman-pembayaran-atas-penetapan-status-penjaminan-simpanan-nasabah-penyimpan-pt-bpr-koperindo-jaya-dl-tahap-2/] 2. Untuk Masa Depan Jakarta, Pemprov DKI Ajak Warga Bersama Pilah Sampah dari Rumah [https://lingkunganhidup.jakarta.go.id/detail-artikel/untuk-masa-depan-jakarta-pemprov-dki-ajak-warga-bersama-pilah-sampah-dari-rumah] 3. Joint Enforcement Action against a Company Secretary [https://www.bnm.gov.my/-/eapn092026] 4. Pengumuman Keberatan PT BPR SULIKI GUNUNG MAS (DL) [https://lps.go.id/pengumuman-pengajuan-keberatan-nasabah-penyimpan-atas-penetapan-status-penjaminan-simpanan-nasabah-pt-bpr-suliki-gunung-mas-dl/] 5. Bekas Setiausaha Syarikat Didenda RM50,000 Selepas Mengaku Salah Memberi Maklumat Palsu Kepada SSM [https://www.ssm.com.my/_layouts/15/listform.aspx?PageType=4&ListId=%7B9F0729E4%2D5E46%2D428E%2DBB94%2DCA9D02DBCDB3%7D&ID=440&ContentTypeID=0x010098952881AC48D34C9D9967E0232CDB0B] 6. MACQUARIE GROUP / LA CAISSE / MAPLE (May 4 Update) [https://competition-cases.ec.europa.eu/cases/M.12368?from=latest-updates&caseInstrument=M&dateHighlight=2026-05-04] 7. MACQUARIE GROUP / LA CAISSE / MAPLE (May 8 Update) [https://competition-cases.ec.europa.eu/cases/M.12368?from=latest-updates&caseInstrument=M&dateHighlight=2026-05-08] 8. TRAFIGURA / GM / LOS GUINDOS GENERACION [https://competition-cases.ec.europa.eu/cases/M.12307?from=latest-updates&caseInstrument=M&dateHighlight=2026-05-08] 9. Lula enacts Mercosur–European Union agreement [https://www.gov.br/planalto/en/latest-news/lula-enacts-mercosur2013european-union-agreement-and-submits-two-additional-treaties-to-congress] 10. Perkuat Kepercayaan Sektor Asuransi, LPS Persiapkan Penjaminan Polis [https://lps.go.id/perkuat-kepercayaan-dan-stabilitas-sektor-asuransi-lps-persiapkan-aktivasi-program-penjaminan-polis-asuransi/]