AML / KYC

Philippine Lawmakers Warned of Urgent Need to Pass AML Reforms

08/03/2020

The AMLC has urged lawmakers to quickly pass legislative amendments to address AML/CTF deficiencies to avoid being grey- or black-listed by the FATF.

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.