Posts By Editors, Regulation Asia
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431AML / KYCAUSTRAC Campaign Targets Illegal Money Transfer Dealers
Editors, Regulation Asia August 28, 2019The campaign seeks to raise community awareness of the money laundering threat that unregistered money transfer dealers pose.
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658Australia & NZACCC Invites Firms to Test Open Banking Data Sharing
Editors, Regulation Asia August 27, 2019The ACCC is seeking participants to help it test the data-sharing ecosystem under the consumer data right, which was passed into law earlier this month.
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737Australia & NZASIC Allows AFCA to Name-and-Shame Financial Firms
Editors, Regulation Asia August 27, 2019ASIC says the move will enhance transparency and accountability of firms’ performance in complaints handling, and of AFCA’s own decision-making.
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336Australia & NZAustralia to Introduce Best Interests Duty for Mortgage Brokers
Editors, Regulation Asia August 27, 2019Under draft legislation released by the government, mortgage brokers that fail to act in the best interests of consumers will face fines of up to A$1.05mn.
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1.1KChinaChina to Accelerate Development of Fintech Regulatory Framework
Editors, Regulation Asia August 27, 2019The PBOC said it will accelerate the development of a regulatory framework for fintech in a bid to promote China as a world leader in financial technology.
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649ChinaUS SEC Fines Deutsche Bank $16m for Corrupt Hiring Practices
Editors, Regulation Asia August 27, 2019Between 2006 and 2014, Deutsche Bank hired relatives of executives of Chinese and Russian state-owned enterprises to generate business for the bank.
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423MalaysiaBNM Raises Culture Bar for Development Financial Institutions
Editors, Regulation Asia August 26, 2019DFIs should firmly ground their business models on strong governance and a culture of professional management, said BNM governor Nor Shamsiah Yunus.
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383ChinaCSRC to Allow Listed Companies to IPO Spinoff Units
Editors, Regulation Asia August 26, 2019Under draft rules, parent companies must meet certain conditions to list spinoff units, including requirements to have been listed, and profitable, for at least the last three years.
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913AML / KYCAPG: Good Progress from Taiwan; Pakistan Falls to ‘Enhanced Follow-up’
Editors, Regulation Asia August 26, 2019The APG has adopted mutual evaluation reports for the Philippines, China, Hong Kong, Pakistan, Taiwan and the Solomon Islands – due to be published in October.
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490Australia & NZNAB Faces Potential A$535 Penalty for Using Unlicensed Loan Referrers
Editors, Regulation Asia August 26, 2019ASIC has initiated federal court proceedings in relation to misconduct by 16 NAB bankers who accepted loan information and documentation from unlicensed introducers.
