UnionPay has reportedly halted negotiations with Russian banks on issuing new bank cards for their customers to avoid possible sanctions.
The Hub’s launch is accompanied by videos featuring regtech solutions from HSBC, Citibank, iFinHealth, Ping An OneConnect Bank and ASTRI.
The capital standard for banks’ equity investments in funds is expected to come into operation in Hong Kong on 1 July 2022.
Singapore's Insurance Culture and Conduct Steering Committee published a third paper offering guidance on improving conduct and culture in the insurance ecosystem.
The proposals will expand the list of futures and options contracts for which the SFC may prescribe position limits.
The recommended control measures include the removal of clickable links in emails and SMS and customer notifications for fund transfers and contact information changes.
The proposals seek to reduce vulnerabilities from foreign currency borrowing, including by exploring ways to reduce the "mechanistic use of credit ratings" by index providers.
The AMLC has partnered with AML Analytics as its testing and validation partner to conduct a thematic review of customer- and transaction-screening systems at FIs and DNFBPs.
The move is aimed at slowing the depreciation of the yuan, which has recently fallen to a one-year low against the dollar.
Firms are invited to develop new solutions for issuing and distributing CBDCs, improve interoperability and advance financial inclusion.