The new standards come into effect on 1 March. Banks will not be allowed to make salary increases dependent on deposit targets.
Deceptive practices were deployed at the expense of clients’ best interest and to the detriment of market integrity, said SFC chief Ashley Alder.
Former Deutsche Bank traders Matthew Connolly and Gavin Black were convicted in October 2018. Both have now been acquitted.
Chiyu Banking Corporation, Chong Hing Bank, Fubon Bank, Shanghai Commercial Bank, and China Everbright Bank can launch WMC services.
OJK warns of market fluctuations and other risks, including the existence of crypto investment Ponzi schemes.
The FSC will ask the ATM providers to work on their AML compliance or face a fine of TWD 500,000 or more.
"RING" stands for Risk management guidelines, Integrity, New technologies, and Governance standards, said BSP governor Benjamin Diokno
The linkage will eventually be expanded to support real-time cross-border fund transfers. The 2nd phase of Malaysia's QR payment linkage with Thailand has also gone live.
The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.
In phase two, BOK will test offline payments, remittances to accounts outside Korea, and the use of its CBDC as payment for NFTs.