Securities / Derivatives

Malaysia: SC Allows E-wallet, E-payment Firms to Distribute Investment Products

05/05/2020

Operators of e-wallet or e-payment applications can register with the SC and partner with capital markets licence holders to distribute investment products to investors.

AML / KYC

FATF Offers Policy Guidance for Managing Covid-19 Related AML Risks

05/05/2020

FATF describes the ways in which AML/CFT policy responses can help support implementation of Covid-19 response measures, while also managing new risks and vulnerabilities.

Capital / Liquidity

Philippines: BSP Allows Banks to Draw on Capital, Liquidity Buffers

05/05/2020

Banks that draw from the capital conservation buffer or fall below 100% LCR will not be considered in breach of Basel III rules.

AML / KYC

Westpac Internal Probes Identify More AML Breaches

04/05/2020

Westpac has identified an estimated 60,000 to 90,000 threshold transaction reports that were not reported to AUSTRAC, and potential problems with its FATCA and CRS compliance.

Market Infrastructure

HSBC Seeks CBIRC Approval to Fully Acquire Insurance JV

04/05/2020

HSBC’s insurance unit has entered into an agreement to buy the remaining 50% equity interest in its China joint venture – HSBC Life China.

Market Infrastructure

FSB Issues Draft Guidance on Assessing CCP Financial Resources

04/05/2020

Five steps are proposed for public authorities to assess the adequacy of a CCP’s financial resources to support its orderly resolution and minimise financial stability risks.

Securities / Derivatives

S. Korea Enhances Flexibility for Financial Investment Businesses

04/05/2020

The legislative revisions will allow firms greater flexibility to implement Chinese walls and outsource key functions, while allowing for harsher penalties when issues arise.

Crypto / Digital Assets

FSA Japan Certifies Two SROs as New Crypto Laws Take Effect

04/05/2020

The certifications took effect from 1 May, the same day the FSA said it would start enforcing new laws on crypto assets.

Securities / Derivatives

CBIRC Issues Directions to BOC Over Oil Losses

04/05/2020

The CBIRC has asked Bank of China to improve its risk management and to negotiate with investors in good faith over an estimated 10bn yuan in losses in its crude oil product.