Posts By Editors, Regulation Asia
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368AML / KYCRBI Updates KYC Guidance to Include Aadhar, Taxpayer Numbers
Accounts opened without new documentary requirements will have severe restrictions in place including a INR50,000 maximum balance and monitoring to prevent foreign transactions.
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450EnforcementFSB Publishes Toolkit on Combatting Misconduct
Toolkit offers options on standards and codes of behavior, measures related to wholesale market conduct, guidance on compensation, and tools for strengthening governance.
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321Capital Regulation
RBI Urges Lenders to Monitor Borrowers for Early Signs of Stress
Central bank deputy governor says banks see non-payment as “on par” despite loan resolution framework; poor credit culture must change.
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347AML / KYCSri Lanka Affirms Commitment to Preventing Financial Crime
As the country looks to increase grass-roots access to finance, it will require greater engagement with the international financial community, requiring greater focus on preventing financial crime.
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371Asia-PacificIndonesia to Limit Cash Transactions to Curb Corruption
Proposed bill will limit cash payments by corporations and individuals to a maximum of IDR100 million, or USD7,200.
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378Capital RegulationChina Cuts Reserve Requirements for Banks
Banks must use majority of cash freed up from 1% RRR cut to repay central bank loans; the rest can be used for small business loans.
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409Hong KongHKEX Launches After Hours Market for Index Options
HSI, HSCEI and Mini HSI will be tradeable between 5:15pm and 1:00am, with a trading halt mechanism in place to avoid extreme price movements.
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346Australia & NZAustralia Consults on Enforcement Powers for Client Money Rules
Draft law provides ASIC with wider range of tools to enforce better protections for client money held for OTC derivatives.
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543Asia-PacificThailand Futures Exchange to Accept Both Cash and Non-cash Collateral
TFEX to accept government and BOT issued bonds and equities underlying stock futures initially, in a move expected to ease trading and lower costs for investors.
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362EnforcementS.Korea FSS Chief Resigns Just Weeks into The Job
Election watchdog finds governor Kim Ki-sik in violation of laws for overseas trips sponsored by financial institutions and political donations.
