Hong Kong Records Higher Negative Equity Mortgage Loans

30/04/2020

The negative equity loans are related to housing loans provided to bank staff or under mortgage insurance programmes, which tend to have higher loan-to-value ratios.

Enforcement

ASIC Quadrupled Criminal Charges Laid in H2 2019

30/04/2020

In the six months to December 2019, ASIC did not have any new enforceable undertakings, reflecting its post-Royal Commission ‘why not litigate’ approach to enforcement.

SFC Offers Guidance on Cyber Risk of Remote Office Arrangements

29/04/2020

In a circular, the SFC sets out examples of controls and procedures to help licensed corporations protect their internal networks and data.

AML / KYC

FATF Postpones Mutual Evaluations, Follow-up Deadlines

29/04/2020

All mutual evaluations and follow-up deadlines are postponed, and FATF will review grey-list jurisdictions in October rather than June as previously scheduled.

AML / KYC

G20 TechSprint Invites Firms to Develop Regtech, Suptech Solutions

29/04/2020

Private firms are invited to develop solutions to improve regulatory reporting, crypto asset AML monitoring, and supervisory information sharing.

Big Picture

Banking Regulation, Innovation Responsible for Shadow Bank Growth

29/04/2020

Regulatory burden on banks and technological improvements are likely the two most important factors behind shadow bank growth, a new paper says.

AML / KYC

PBOC Penalties for AML Violations Spike in Q1 2020

29/04/2020

The increase in penalties is in part the result of a new calculation method in use at the PBOC, where penalties can now accumulate when multiple breaches occur at once.

India Brings to Life Unified Regulator for IFSCs

29/04/2020

The new authority can now appoint members and employees, set up funds and apply tax exemptions, but other regulatory and supervisory powers have not yet taken effect.

Fintech / Regtech

Beijing Fintech Regulation Pilot to Expand to Six Other Cities

29/04/2020

The expanded pilot programme will seek to guide FIs and fintech firms towards exploring the use of technology to support small firms with funding difficulties.