AML / KYC

AUSTRAC Issues New Guidance on Preventing TBML

28/10/2022

The guidance describes the most common TBML methodologies and provides indicators and behaviours to help financial service providers detect and report suspicious activity.

Enforcement

HKEX Issues New Guidance Note, Revises Sanctions Statement

27/10/2022

Parties are expected to cooperate with HKEX during its investigations and disciplinary actions, the new Guidance Note on Cooperation says.

Market Infrastructure

UK Regulator Directs CRAs to Fix Governance Gaps

26/10/2022

Credit rating agencies have until 30 January 2023 to submit action plans to the FCA on how they will rectify governance issues.

Capital / Liquidity

APRA to Review Prudential Framework for Financial Groups

25/10/2022

APRA will seek industry feedback in H1 2023 on five topics related to groups: financial resilience, governance, risk management, resolution, and competition issues.

Fintech / Regtech

HKMA Officially Launches Commercial Data Interchange

24/10/2022

The new platform will enable SMEs to get cheaper bank loans, and enable banks to access the information they need to assess creditworthiness.

Crypto / Digital Assets

Japan Set to Relax Rules for Crypto Token Listings – Report

23/10/2022

Crypto tokens will reportedly be able to list within 30 days. Currently, the screening process for a new listing takes around six months to a year.

Fintech / Regtech

RBI Consults on New Master Directions on IT Governance

23/10/2022

Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.

South Korea to Overhaul Accounting Regulations

12/10/2022

The changes will ease the burden on SMEs, enhance executive responsibility over accounting controls, and triple whistleblower rewards.

AML / KYC

Singapore Punishes Ex-BSI Banker Over 1MDB Failings

11/10/2022

BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.