AML / KYC

BOJ Releases Summary Report on CBDC Legal Issues

27/12/2019

In light of the potential legal issues that may arise from a CBDC issuance by the Bank of Japan, more detailed discussion is needed.

Capital / Liquidity

Philippine Bourse Seeks Higher Capital Requirements for Brokers

26/12/2019

In the aftermath of a 700-million-peso stock theft, PSE president Ramon Monzon will reportedly propose to more than triple current capital requirements for older firms.

Market Infrastructure

RBI Allows IFSC Banks to Open Foreign Currency Current Accounts

26/12/2019

IFSC Banking Units will be allowed to open foreign currency current accounts for entities operating in Gift City, including non-resident institutional investors and corporate borrowers.

Market Infrastructure

Taiwan FSC Outlines Bank Examination Priorities for 2020

26/12/2019

The FSC’s Financial Examination Bureau will reportedly focus on compliance with rules on AML, corporate governance, information security, consumer protection and personal data protection.

AML / KYC

DFAT to Establish New Australian Sanctions Office from 1 Jan

26/12/2019

As part of the establishment, Australia’s Department of Foreign Affairs and Trade will be rolling out changes to its online sanctions permit platform in early 2020.

Securities / Derivatives

SEBI to End Usage of Pool Accounts for Mutual Fund Transactions

26/12/2019

SEBI found that trading and clearing members used by mutual funds were diverting client funds and securities to meet their own or third-party margin or settlement obligations.

Capital / Liquidity

Australia Proposes Industry-Funded Compensation Scheme of Last Resort

25/12/2019

The scheme will ensure that consumers and small businesses receive a payout in cases where compensation has been awarded but the financial services provider is unable to pay.

Fintech / Regtech

ASIC Publishes Findings from 2019 Regtech Initiatives

25/12/2019

Participants said the exponential growth in data volume means the financial services industry must consider implementing regtech as an ‘imperative’ to undertake risk management and compliance functions.

AML / KYC

ISDA Calls For Guidance on Handling of Derivatives Impacted by Sanctions

25/12/2019

ISDA proposes 8 principles sanctions authorities can consider to ensure safe operation of markets, and minimise derivatives market disruption and economic consequences for non-sanctioned entities.