Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.
The HKMA expects authorised institutions to adhere to the Protocol before it takes effect and to encourage counterparties to do the same.
By end-2020, firms should be in a position to offer non-LIBOR loans to customers. By 25 January, firms should adhere to the ISDA fallbacks protocol.
The APG says Pakistan has been re-rated from 'partially compliant' to 'compliant' on Recommendation 29 and has made progress on Recommendation 1.
The fund is expected to serve as a stepping stone for the establishment of a more vibrant corporate restructuring ecosystem, the FSC said.
BondEvalue operates BondbloX Bond Exchange, a blockchain-based exchange that allows for bonds to be traded in USD 1,000 lots.
Effective implementation of the FATF Standards, including the 'travel rule', is needed to combat a recent surge in ransomware attacks.
The new regulations are aimed at establishing a long-term mechanism for resolving and disposing of risks at non-bank payment institutions, the PBOC said.
US officials reportedly fear the Chinese government could access sensitive banking data belonging to future US users of the Alipay payment app.
PhilSys will mean wider inclusion in the financial ecosystem for the unbanked, allowing cash aid, credit and other welfare spending to reach them faster.