Anti-Money Laundering

MAS Issues AML Outsourcing Guidance for Capital Market Firms

15/07/2020

MAS found material lapses in outsourced AML/CFT controls, largely the result of poor assessment and due diligence processes, and lax oversight and monitoring.

Trading & Investment

Thailand SEC Approves Rules on High-yield Bond Funds

15/07/2020

High-yield bond funds can be set up as non-redeemable closed-end mutual funds or investment trusts, with a maturity period of at least two years.

Custody & Infrastructure

BOK Takes Over Blockchain Authentication Tool BankSign

14/07/2020

BankSign was developed by Samsung SDS in collaboration with the Korea Federation of Banks to allow for easier customer authentication on different banks’ mobile apps.

Fraud, Scams & Cybercrime

KPMG Cites Concerns Over ‘Questionable’ ZenRock Transactions

14/07/2020

KPMG was appointed as ZenRock’s interim judicial manager in May amid allegations from HSBC that the company engaged in “dishonest transactions”.

Fraud, Scams & Cybercrime

Chinese Financial Regulators Vow Crackdown on Fraud

14/07/2020

The FSDC set out measures to speed up investigations and criminal prosecutions, increase penalties and civil compensation, and improve stock market delisting mechanisms.

Capital Adequacy

RBI Directs Banks to Conduct Stress Tests, Raise Capital

14/07/2020

RBI Governor Shaktikanta Das said minimum capital requirements may not be sufficient to absorb losses and maintain financial stability.

Anti-Bribery & Corruption

Sustainable Supply Chains and the Role Banks Play

14/07/2020

Incoming rules from the EU, UK, Singapore and Hong Kong highlight the need for banks to gain a better understanding of the third party and supply chain risks their customers face.

Trading & Investment

ASIFMA Publishes IBOR Transition Guide for Asia

14/07/2020

The guide provides an overview of issues for FIs to consider in their LIBOR transition programmes and an implementation checklist.

Sustainable Finance

FSDC Proposes Measures to Advance Hong Kong as ESG Hub

14/07/2020

Hong Kong needs a more coordinated policy environment and an ESG policy roadmap, to provide greater certainty and foster confidence for institutional investors, the FSDC says.