KYC & CDD

Hong Leong Bank Launches Digital Account Opening

08/10/2020

Hong Leong has become the first Malaysia bank to launch “fully digital” account opening, just three months after BNM’s new e-KYC guidelines took effect.

Fraud, Scams & Cybercrime

UOB Credited for Helping Recover Stolen Funds

08/10/2020

Collaboration with UOB attests to the importance of a strong partnership with community stakeholders to effectively combat scams and transnational fraud, the Police said.

Cloud & Infrastructure

RegTech Asia 2020: Addressing Complex Regulatory Change

08/10/2020

SmartStream’s Vincent Kilcoyne discusses the use of technology and automation to address regulatory change, highlighting the need for high quality data.

AI Risk & Governance

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 Adequacy

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.

Clearing & Post-Trade

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.

Clearing & Post-Trade

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.

Trading & Investment

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.

Operational Risk

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.