Capital / Liquidity

HKMA Consults on Revised SPM on Group-wide Bank Supervision

02/12/2020

The revised SPM accounts for holding companies established overseas and intermediate holding companies, including those that are unregulated or engaged in non-financial activities.

AML / KYC

SFC Directs Senior Managers to Correct AML/CFT Deficiencies

02/12/2020

The SFC found deficiencies in areas including oversight, internal controls, risk assessments, third party deposits, SoW/SoF checks, and sanctions screening, among others.

Enforcement

Former Convoy Executives Found Not Guilty in ‘Enigma Network’ Case

02/12/2020

The judge ruled that the evidence provided by prosecutors was not sufficient to prove there was any attempt to deceive the stock exchange or Convoy directors or investors.

AML / KYC

FATF Consults on AML/CTF Frictions in Cross-border Payments

01/12/2020

The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.

Capital / Liquidity

APRA Penalises Westpac For Breaches of Liquidity Standards

01/12/2020

Westpac will have to apply a 10 percent add-on to the net cash outflow component of its LCR calculation until its shortcomings have been rectified.

ESG / Sustainability

Singapore Banks Get New Best Practice Code for Commodity Financing

01/12/2020

The Code was developed by an industry working group of 28 commodity financing banks in consultation with trading firms and with the support of regulators.

Fintech / Regtech

APRA Grants TransferWise Licence to Directly Access NPP

30/11/2020

Access to Australia’s real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.

Securities / Derivatives

China to Grant Domestic Investors Greater Access to Foreign Markets

30/11/2020

The QDLP and QDIE programmes – piloted in Shanghai, Beijing and Shenzhen – will be expanded “in the near future”, according to China’s foreign exchange regulator

Securities / Derivatives

China: Banks Suspend Opening of Precious Metals Trading Accounts

30/11/2020

Seven banks have temporarily stopped opening new accounts for precious metals trading amid concerns that heightened volatility could lead to losses and complaints.