Posts By Editors, Regulation Asia
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427EnforcementS. Korea FSS Chief Resigns Amid Hiring Scandal Allegations
Choe Heung-sik denies allegations he helped a friend’s son get a job while he was president of Hana Financial Group; resigns anyway.
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386Fintech / RegtechSouth Korea’s FSC Proposes Fintech Link with Indonesia
Choi Jong-koo also lobbies to allow Korean firms to expand their business remits in the Southeast Asian country.
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458Asia-PacificVietnam Announces Risk Hedging Rules for Warrant Issuers
Hi Chi Minh Stock Exchange to launch covered warrants in late March; issuers required to hold adequate underlying securities and submit daily reports to the exchange.
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746Asia-PacificSri Lanka to Bail Out Finance Company Depositors
The central bank has cancelled troubled finance company CIFL’s licence and doubled the maximum deposit insurance payout for each depositor.
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433AML / KYCCredit Reporting Regime Must Be Fair: ABA
Banking association says new regime needs a way to flag special circumstances in credit histories to prevent discrimination against customers.
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511AML / KYCNew Initiative to Help Boost Correspondent Banking Relationships
Wolfsberg Group Questionnaire has potential to reduce costs associated with KYC application and streamline the establishment and maintenance of correspondent banking relationships.
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411EnforcementSBI Fined for Noncompliance with Counterfeit Currency Rules
Central bank investigators found that State Bank of India had not complied with rules on detection and impounding of counterfeit notes.
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383Asia-PacificThailand, Indonesia Boost Capital Markets Cooperation
Extension of MoU includes cooperation on cross-border transactions, product development, information technology and knowledge sharing.
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408Enforcement
S. Korea Seeks Powers to Fine False-Name Bank Accounts
Legislative reforms aimed at granting FSC powers to collect fines of over 50 percent of assets found in false-name bank accounts.
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475Capital RegulationLoan Provisions for Chinese Banks Eased
Loan loss provisions to be lowered to between 120 and 150 percent of bad loans total; provisions against total loan book also reduced.
