Enforcement

Singapore Authorities Issue More Charges in Wirecard Probe

09/12/2020

The director of local accounting firm Citadelle Corporate Services was hit with three additional charges for falsifying letters confirming Wirecard cash balances.

Market Infrastructure

PBOC, HKMA Explore Southbound Leg for Bond Connect

09/12/2020

The PBOC and HKMA will form a working group to study the framework for a southbound leg of Bond Connect. No timelines have been set.

Market Infrastructure

India’s RTGS System to Be Available 24×7 from Monday

09/12/2020

RTGS members banks are directed to inform their customers of the change and to put in place necessary infrastructure to provide RTGS around the clock.

AML / KYC

AUSTRAC Targets Disability Insurance Fraud in New Guidance

09/12/2020

A new financial crime guide details the indicators that can help financial services firms identify when NDIS fraud may be taking place.

ACCC Proposes Measures to Improve Mortgage Pricing Fairness

09/12/2020

The ACCC recommends that lenders be required to regularly prompt borrowers to review their loan costs and consider switching products or lenders.

Market Infrastructure

Euroclear Bank, Shanghai Clearing House Launch ‘Yulan Bonds’

09/12/2020

Yulan bonds issued by SHCH will use real time multi-currency DVP settlement with any counterparty within Euroclear Bank’s network.

Securities / Derivatives

Goldman Sachs Seeks Approval to Fully Own China Securities JV

09/12/2020

Goldman already owns 51 percent of its China securities joint venture and has signed an agreement to acquire the remaining 49 percent.

AML / KYC

FATF Releases New Report on Trade-based Money Laundering

09/12/2020

A key finding of the report is that greater awareness about all aspects of the trade process would likely increase opportunities to detect and disrupt TBML.

Big Picture

Financial Services Driving Growth in Singapore Blockchain Use

09/12/2020

The Singapore Blockchain Ecosystem Report 2020 says the use of blockchain in Singapore’s financial sector is driven by industry collaboration to address common pain points.