AML / KYC

Vietnam: SBV Directs Banks to Strengthen AML Controls

08/01/2024

The directions come after Vietnam implemented a new AML law in 2022 and “Decree 19” in April 2023 to support implementation.

Fintech / Regtech

Korea FSC to Launch New Microfinance Assistance Platform

08/01/2024

The new online platform will help users find suitable microfinance products based on their financial needs and situation.

ASIC Extends Product Intervention Orders on Short Term Credit

06/01/2024

The product intervention orders issued in July 2022 were to remain in force for 18 months. They will now remain in force until 1 October 2032.

Capital / Liquidity

BSP Amends Cheque Clearing Policy, Reintroduces Funding Facility

06/01/2024

The reforms are aimed at enhancing the efficiency and safety of the Philippine payments system.

Market Infrastructure

Philippine Bourse Outlines Plans to Boost Market Liquidity

05/01/2024

The PSE plans to lower the minimum board lot size, allow algorithmic trading, and introduce depositary receipts.

Capital / Liquidity

Chinese Banks Act Against Credit Risk Exposure – Report

04/01/2024

Some large Chinese banks are critically assessing small banks to identify those with poor asset quality and high risk of default.

AML / KYC

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.

Enforcement

FSS Korea Fines BNK Kyongnam Bank for Employee Misconduct

02/01/2024

Former branch manager opened a securities account using his mother-in-law’s name and forged signature, and used it to place 193 stock trades.

ESG / Sustainability

HKMA Study Assesses Climate Risks of HK-domiciled Funds

29/12/2023

The study found that the climate risk of HK-domiciled funds is “in line with funds domiciled in other Asia-Pacific economies.”