Posts By JP Reimann, FinFabrik
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537AML / KYCSFC Updates AML/CFT Guideline as FATF Assessment Looms
JP Reimann, FinFabrik July 6, 2018Proposals include streamlining of customer onboarding processes and a requirement to implement group-wide AML/CFT systems at overseas branches and subsidiaries.
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457EnforcementJapan Scrutinises Crypto Exchanges, Industry Body to Release New Rules
JP Reimann, FinFabrik June 21, 2018FSA to issue business improvement orders on registered crypto exchanges; self-regulatory industry association to release new voluntary rules on 27 June.
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436Fintech / RegtechCrypto ‘Poor Substitute’ for Conventional Money – BIS
JP Reimann, FinFabrik June 21, 2018Lack of trust, poor efficiency and vast energy use are cited among other reasons for cryptocurrency’s limited potential to replace conventional money in the latest BIS annual report.
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686Hong Kong
Hong Kong Targets September for OTC Derivatives Margin Rules
JP Reimann, FinFabrik June 20, 2018SFC consultation proposes to phase-in IM requirements to avoid market disruption; VM to take effect on 1 September 2019.
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555AML / KYCS. Korea FIU to Supervise Crypto Exchanges Like Banks
JP Reimann, FinFabrik June 19, 2018Legislation introduced to bring cryptocurrency exchanges under the direct supervision of KoFIU, obligating them to adopt AML/CFT directives including systems to monitor for and report suspicious transactions.
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427Capital RegulationHKMA Imposes Enhanced Supervisory Arrangements on Indian Bank Branches
JP Reimann, FinFabrik June 14, 2018Due to capital deficiencies, the Hong Kong branches of Allahabad Bank, Punjab National Bank and Indian Overseas Bank must hold HQLA equivalent to 100% of unpledged deposits and should not solicit customer deposits, among other measures.
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628Hong KongHKMA Adds Two Additional Phases to Cyber Resilience Assessment
JP Reimann, FinFabrik June 14, 2018Second phase to cover 60 authorised institutions with higher risk, third phase to cover about 90 remaining institutions; HKMA expressed concern about lack of qualified C-RAF assessors.
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477ChinaChina, Hong Kong to Deepen Cross-Boundary Market Surveillance
JP Reimann, FinFabrik June 14, 2018Regulators discussed collaboration on market surveillance, intelligence sharing, coordinated investigations, and the establishment of a notification mechanism for cases involving dual listed shares and cross-boundary market misconduct.
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537KoreaTaiwan, S. Korea Launch ETF Cross Listings
JP Reimann, FinFabrik June 13, 2018Cross listed ETFs track tech stocks traded in the two countries; following 2015 MoU that sought to expand cooperation between the TWSE and KRX.
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1.8KFeatureCryptocurrency Worth $1.1bn Stolen in H1 2018 – Report
JP Reimann, FinFabrik June 12, 2018Theft facilitated by $6.7mn dark web marketplace for crypto-related malware; cryptocurrency exchange most vulnerable to attack.
