AML / KYC

SWIFT Announces Enhancements in Payments, Securities Processing

17/09/2020

The enhancements will be made available through a next-generation digital platform that will “fundamentally transform” payments and securities processing, SWIFT says.

AML / KYC

Chinese Police Target Offshore Gambling via E-Commerce Platforms

17/09/2020

Chinese police say at least $2bn has been laundered to offshore gambling sites through fake e-commerce purchases and other methods.

HKMC Annuity Launches Video-Conferencing Application Service

17/09/2020

In a pilot run approved by the Insurance Authority under the Insurtech Sandbox, customers can apply for HKMC Annuity plans through video-conferencing.

BOT Enhances Fair Service Rules for Banks, Asset Managers

17/09/2020

Besides banks and their subsidiaries, the rules have been extended to cover also asset managers and nanofinance operators.

Securities / Derivatives

CSRC Issues Draft Rules for Private Equity Funds

17/09/2020

The rules seek to address concerns that some private equity funds are being used as vehicles for public fundraising and qualified investor requirements are being circumvented.

Capital / Liquidity

Korean Financial Groups to Start Publishing Integrated Disclosures

16/09/2020

Samsung, Mirae Asset, Hanwha, Hyundai Motor, Kyobo and DB will start publishing group-wide integrated disclosures from end-September.

Enforcement

Singapore Convicts Three Individuals for Unauthorised Trading

16/09/2020

The former trading representatives acted on the instructions of a fourth individual to use accounts belonging to family, friends and clients to buy and sell Skyone shares.

AML / KYC

AUSTRAC Fines State Street Over IFTI Reporting Breaches

16/09/2020

State Street Bank and Trust failed to report IFTIs on 99 occasions. There is no suggestion that the transactions were suspicious or that there were CDD deficiencies.

Enforcement

US Regulators to Reprimand Citigroup Over Risk Management

16/09/2020

The Federal Reserve and OCC are expected to require Citigroup to develop and execute a plan to improve its risk management systems.