Editors, Regulation Asia

TransUnion Online Service Suspended in Hong Kong – Reports

The HKMA and privacy commissioner have demanded security improvements after reporters were able to access top officials' credit reports through TransUnion's online service.

Philippine Central Bank Updates Rules on KYC, AML

The BSP will require financial institutions to collect customers' unique 'PhilSys' ID numbers, and allow the use of technology to capture and record personal data.

RBI Announces Phasing-In of LEI for Non-Derivatives Markets

Entities transacting in government securities, money markets and non-derivative forex markets will be required to have LEI codes, starting with larger firms in April 2019.

India Eases Asset Securitisation Norms to Help Non-Bank Liquidity

The RBI has reduced the holding time required for loans with maturities of over 5 years before they can be securitised.

China Consults on Revision of Rules Governing Foreign Banks

CBIRC proposes more stringent supervision of foreign banks to improve “risk resilience” and customer protection, following the release of measures to further open up the banking industry.

India to Implement NSFR from April 2020

The Net Stable Funding Ratio will apply to Indian banks on both a stand-alone and consolidated basis, and foreign banks on a stand-alone basis.

Singapore Pushes Data Analytics, Collaboration to Counter Financial Crime

A new report by Singapore's AML/CFT Industry Partnership identifies key weaknesses of current approaches that can be addressed with data analytics and greater industry collaboration.

ASX Consults on Changes to Listing Rules

South Korean Banks Vulnerable to Money Laundering Risks: FSC

Banks are most exposed to money laundering risks due to the innate characteristics of their products and services, according to an FSC review of the domestic financial industry.

S. Korea Fines Goldman $6.7m for Naked Short Selling

The FSC found that  Goldman Sachs conducted naked short selling worth about KRW 40 billion in late May. Naked short selling is prohibited in South Korea.