AML / KYC

FATF Issues Guidance Paper on Digital Identity Systems

07/03/2020

The guidance recommends a risk-based approach which relies on a set of assurance frameworks and technical standards for digital ID systems.

Securities / Derivatives

SEBI Proposes New Service to Simplify Shareholder E-Voting

06/03/2020

SEBI proposes to enable access to multiple e-voting service providers through a single login and authentication at the depository level.

Capital / Liquidity

UPDATED – RBI Seizes Control of Troubled Lender Yes Bank

06/03/2020

The RBI says it had “no alternative” to protect the interests of the public and depositors, given the absence of a credible revival plan. A draft plan for Yes Bank’s reconstruction is open for comment.

Securities / Derivatives

HKMA Sets Out Expectations on Algo-Trading Risk Management

06/03/2020

During thematic examinations last year, the HKMA observed a number of sound practices used by some institutions to manage the risks associated with algorithmic trading.

Big Picture

IIF Calls for Global Alignment of Sustainability Efforts

06/03/2020

The IIF paper says fragmentation around climate risk assessment has emerged in the areas of prudential regulation and supervision, market and conduct regulation, taxonomy and disclosure.

AML / KYC

APAC Banks Slow to Integrate Fraud, AML Functions

06/03/2020

A FICO survey finds that only 18% of APAC banks have a strategic plan to converge their fraud and AML compliance functions, despite some 71% believing it will help fight financial crime.

AML / KYC

New Zealand Takes First Criminal Action Under AML/CFT Act

05/03/2020

A mother, son and their company were convicted for helping a known pyramid scheme operator remit NZ$53mn into New Zealand, without conducting CDD or reporting suspicious transactions.

FSC Korea Unveils 2020 Roadmap to Stimulate Capital Markets

05/03/2020

The FSC’s plans include the development of a high yield corporate bond market, an overhaul of securitisation regulations, and looser rules on securities firms providing capital to SMEs, among others.

Market Infrastructure

HK Entities of Chinese Groups Get Relief from CbC Filing Obligation

05/03/2020

Mainland China and Hong Kong have entered into an arrangement for the automatic exchange of country-by-country reports, a welcoming development according to KPMG.