Posts By Editors, Regulation Asia
-
520ChinaChina Minsheng Bank Hit with $4mn Fine for Selling Fake WMPs
Case of $249mn in fake products first exposed when customer went to branch to redeem WMP which did not actually exist.
-
511Asia-PacificMalaysia Trialling Blockchain-based Unlisted, OTC Markets
Distributed ledger trial will form basis of technology architecture, software functions and development standards to underpin markets.
-
581AML / KYCReport Sets out Macau AML/CTF Weaknesses
Asia Pacific Group says authorities have not yet grasped cross-border AML risks, but praises use of intelligence to produce suspicious transaction reports.
-
Australia & NZ
Australian Securities Regulator Fines VW Financing Arm
Move hints at increasing global concern that car finance, fuelled by low interest rates, could be source of next sub-prime crisis.
-
497Market InfrastructureSGX Revamping Securities Settlement Processes
Exchange consultation proposes move to T+2 settlement, simultaneous securities, money settlement in bid to prevent systemic risk.
-
Capital Regulation
South Korea to Write off $5.7bn in Personal Debt
People’s Happiness Fund will purchase more than half the debt, remainder will be written off using private sector funds.
-
AML / KYC
China Micro-lenders Ordered to Halt Business
Murkiest of shadow banking sectors has extended short term credit of more than $150bn; extremely high rates, collection methods have led to ‘social problems’.
-
Enforcement
HK Regulators Warn on Conflicts of Interest in Product Sales
HKMA, SFC say some intermediaries aren’t revealing related counterparties, not executing at best price, hide cheaper products.
-
AML / KYC
Singapore, Abu Dhabi to Cooperate on Banking Supervision, Markets, Fintech
Middle Eastern regulator has already approved one Singapore firm to provide credit services; Singapore firm won Fintech challenge.
-
Asia-Pacific
Indonesia Regulator to Set-up Regtech Surveillance System
New technology to include integrated surveillance including early-warning system, data analysis and online regulatory reporting for financial institutions.
