Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
AML / KYC
AML Audit Ordered by AUSTRAC Finds Afterpay ‘Low Risk’
26/11/2019
Following AUSTRAC’s order for Afterpay to review its AML/CTF compliance in June on suspicious of breaches, an external order has found the breaches only occurred due to the poor legal advice.
AML / KYC
Myanmar Announces Licensing Framework for Remittance Providers
26/11/2019
The move is aimed at providing a cost-effective channel for the legal movement of money into Myanmar and reduce the use of illegal money transfer brokers.
SGX RegCo Rewards Good Governance with ‘Fast Track’ List
26/11/2019
SGX RegCo has named 95 companies that will receive prioritised responses on selected corporate action submissions for maintaining high standards of governance, compliance and reporting quality.
ESG / Sustainability
Vietnam Banks to Include ESG Factors in Credit Risk Analysis
26/11/2019
The State Bank of Vietnam has directed all Vietnamese banks to include ESG risk assessments in credit risk analysis and establish dedicated ESG analysis units by 2025.
AML / KYC
FATF to Develop Guidance on Disrupting Illegal Wildlife Trade
26/11/2019
Under its Chinese presidency, the FATF has made it a priority to help countries target money and criminal networks involved in the illegal wildlife trade.
APRA Proposes Best Interests Duty for Insurance in Superannuation
26/11/2019
Superannuation funds which use related parties to deliver insurance will need to certify that the arrangements are in the best interests of members.
Fintech / Regtech
Thailand to Launches DLT Pilot Trading Corporate Bonds
26/11/2019
The DLT project was first announced in September, and will first test trading with bonds before expanding to equities, derivatives and investment funds.
AML / KYC
UPDATED – Westpac Announces Plan to Address AML/CTF Failings
26/11/2019
Westpac is determined to urgently fix the issues raised by AUSTRAC and lift its standards. ASIC and APRA have begun investigations into the bank.
AML / KYC
Singapore Company Director Jailed for North Korea Trade
25/11/2019
The Singapore man was reportedly selling luxury goods to a North Korean shop, shipping the goods via Dalian, and receiving payment via front companies in China and Hong Kong.
Capital / Liquidity
CBIRC Proposes Higher Conduct Standards for Trust Companies
25/11/2019
The CBIRC has issued draft rules cancelling the $1bn total asset threshold foreign FIs are currently required to meet to hold shares in domestic trust companies, among other revisions.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team