Fintech / Regtech

DBS Completes First Fully Digital Trade Financing Settlement on NTP

10/02/2020

DBS was able to cut the trade financing processing time from about a week to under one working day, yielding greater operational efficiencies for trade partners.

Fintech / Regtech

S. Korea’s KakaoPay Green-lit to Offer Brokerage Services

10/02/2020

The FSC has granted final approval to KakaoPay allowing it to acquire Baro Investment & Securities and enter the brokerage services space.

HSBC Provides Relief to Customers Impacted by Outbreak

10/02/2020

HSBC becomes the latest Hong Kong bank to announce relief measures for business owners impacted by the novel coronavirus and its effects on the economy.

AML / KYC

US Treasury Issues 2020 National Strategy for Combatting Illicit Finance

10/02/2020

The document highlights increased transparency, an improved supervisory framework for FIs, and enhanced operational capabilities as three strategic priorities for the US AML/CFT regime.

MAS Issues Advisory to FIs Amid Higher Coronavirus Alert Level

10/02/2020

MAS asks financial institutions to ensure business continuity and warns that cyber threat actors are taking advantage of the novel coronavirus situation to conduct email scams, phishing and ransomware attacks.

Securities / Derivatives

SGX to Allow Some Issuers to Delay AGM, Audited Results

10/02/2020

The extension is for issuers whose principal place of business or significant operations are in China, and whose audits have been affected by coronavirus-related measures.

Capital / Liquidity

BIS Paper Identifies Sources of Regulatory Fragmentation in Banking

09/02/2020

The paper points to varying asset valuation practices, which impact measurements of banks’ regulatory capital, along with Pillar 1 and Pillar 2 implementation differences.

Enforcement

SFC Bulletin Shows Sponsor Conduct Still Top-of-mind

07/02/2020

The Regulatory Bulletin offers case studies illustrating the SFC’s key areas of concern and recent regulatory interventions in IPO applications and corporate transactions.

AML / KYC

EBA Consults on Revised ML/TF Risk Factors Guidelines

07/02/2020

The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.