Anti-Money Laundering

UK Crime Agency Reveals Progress of SARs Reform Programme

29/11/2020

Law enforcement will get a new single interface providing access to search, analysis and visualisation tools. SARs reporters will see the SAR Online portal upgraded.

PEPs & Sanctions

EU Set to Formalise Magnitsky-style Sanctions Regime

29/11/2020

New legislation provisionally agreed by member states will allow the EU to target individuals who commit gross human rights violations irrespective of nationality.

Supervision & Enforcement

US OCC Fines JPMorgan for Weak Controls Over Fiduciary Activities

29/11/2020

The deficiencies identified by the OCC constituted unsafe or unsound practices that were part of “a pattern of misconduct”, says the consent order.

Payments & Settlements

Australia, Singapore to Trial Paperless Trade Using Blockchain

29/11/2020

The Australian Border Force, Singapore Customs, and IMDA, as well as industry groups and financial institutions, will participate in the trial.

Conduct, Culture & Accountability

Australia Gets New Guidance for Internal Auditors in Financial Services

29/11/2020

The Better Practice Guide was developed by industry practitioners with APRA and ASIC serving as vocal observers and EY and KPMG providing secretariat support.

Trading & Investment

TFEX Announces Launch of Japanese Rubber Futures Contract

29/11/2020

The cash-settled rubber futures contract will use the Osaka Exchange’s RSS3 futures delivery prices as settlement prices on the Thailand Futures Exchange.

Liquidity Risk

BSP Issues Draft Rules for Islamic Bank Liquidity Management

29/11/2020

Due to the limited availability of liquidity management instruments which are appropriate for Islamic banks and banking units, the BSP will adopt a flexible approach to compliance.

Credit Risk

RBNZ to Re-instate Mortgage Lending Restrictions Early

29/11/2020

The RBNZ intends to re-impose LVR restrictions on high-risk lending with effect from 1 March 2021 – two months earlier than originally anticipated.

Trading & Investment

DSB Calls for Asian Members to Join Product Committee

29/11/2020

The DSB seeks to expand its Product Committee membership to include more OTC derivatives users from Asia to further broaden industry collaboration geographically.