Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
AML / KYC
FATF Publishes Guidance on Risk-based AML/CFT Supervision
08/03/2021
The guidance includes practical advice to address common challenges in risk-based supervision, including examples of strategies for supervising DNFBPs and VASPs.
BSP Relaxes Reporting Requirements for Financial Institutions
07/03/2021
The BSP is reducing reporting requirements related to the borrowings of directors, officers, stockholders and their related interests.
ASIC Attributes Higher Industry Levies to Royal Commission Work
07/03/2021
ASIC’s regulatory work related to the Royal Commission recommendations involves higher-cost activities such as enforcement, supervision and surveillance.
AML / KYC
GLEIF Sets Out Process for Validation Agent Trial Phase
07/03/2021
The goal of the Validation Agent role is to streamline the LEI issuance process by enabling FIs to directly liaise with LEI Issuers on clients’ behalf during onboarding.
AML / KYC
GFI Offers Recommendations on Advancing FinCEN Reforms
06/03/2021
Global Financial Integrity says money laundered from tax evasion and illicit funds entering the US financial system from overseas are estimated at $1tr.
Market Infrastructure
Japan Close to Decision on Lower Interbank Transfer Fees
06/03/2021
Interbank transfer fees have remained the same for over 40 years. A reduction in interbank EFT fees may be implemented as soon as October.
AML / KYC
SZSE Amends Bond Repo Rules to Enhance Security, Transparency
06/03/2021
The revised measures will require counterparties to display their identity information. Previously only the counterparty’s code was available for display.
Market Infrastructure
IBA Publishes Beta Version of ICE SONIA Indexes
05/03/2021
The ICE SONIA Indexes can be used to help calculate and process interest accruals from both a lender’s and borrower’s perspective.
AML / KYC
Malaysia Secures Settlement from Deloitte to Resolve 1MDB Claims
05/03/2021
Malaysia’s Finance Ministry is also negotiating a settlement with KPMG, which was replaced by Deloitte as auditor of 1MDB in 2013.
Market Infrastructure
Tokyo Exchange Obtains ESMA Recognition Under BMR
04/03/2021
A total of 192 benchmarks administered by the TSE are listed as in scope, including key benchmarks TOPIX and JPX-Nikkei Index 400, as well as their sub-indices.
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