AML / KYC

UIDAI, NPCI Testing Face Authentication with Banks

08/10/2020

NPCI has commenced phase one tests of using facial authentication in non-financial transactions with ICICI Bank, Yes Bank, RBL Bank and Fino Payments Bank.

Capital / Liquidity

Japan: Bank Stress Tests to Use Covid-19 as Baseline Scenario

08/10/2020

The BOJ and FSA jointly stress-tested banks using a common scenario for the first time in December. This year’s stress tests will use the Covid-19 pandemic as the common scenario.

Securities / Derivatives

China’s DCE, ZCE Assessed as Post-trade Transparency Positive

08/10/2020

The positive assessments relieve EU investment firms from the obligation to make DCE and ZCE transactions post-trade transparent via an APA.

Securities / Derivatives

ASX Proposes Auctions Mechanism to Handle Futures Participant Defaults

08/10/2020

ASX proposes rule amendments to allow it to auction off exchange-traded derivatives positions in the event that a futures clearing participant defaults.

Securities / Derivatives

China Accelerates Development of Infrastructure REITs Market

08/10/2020

REITs markets will play an important role in enhancing Shanghai’s status as an international financial centre, helping to attract overseas capital while promoting RMB internationalisation.

AML / KYC

Fed Orders Citigroup to Correct “Longstanding Deficiencies”

08/10/2020

The Fed has ordered Citigroup to remediated enterprise-wide risk management and controls deficiencies. The OCC has penalised Citibank $400mn for the same deficiencies.

Fintech / Regtech

G20 Data Gaps Initiative Has ‘Proven its Value’: FSB, IMF

07/10/2020

The fourth progress report on phase two implementation of DGI-2 says progress made to date has proven its value during the crisis triggered by the Covid-19 pandemic.

AML / KYC

RegTech Asia 2020: Enhancing Transaction Monitoring

07/10/2020

How is the financial industry using AI/machine learning and data analytics to enhance typically rule-based transaction monitoring systems?

Enforcement

Korea FSS to Penalise Brokerage CEOs Over Lime Asset Mis-selling

07/10/2020

The proposed sanctions may include a ban on former and current CEOs of three brokerage firms from working in the financial industry for up to five years.