AML / KYC

BCBS Seeks Cooperation Between Prudential and AML Supervisors

13/11/2019

The BCBS says different supervisory functions should exchange information and cooperate both domestically and across borders, regardless of the institutional setting.

Securities / Derivatives

Malaysia Finalises Requirements for Electronic Trading Platforms

13/11/2019

The new rules went into effect on 11 November and require that electronic trading platforms and networks obtain prior approval from the central bank before offering services in Malaysia.

Fintech / Regtech

BIS Launches Innovation Hub Centre in Singapore

13/11/2019

The launch of the BIS Innovation Hub Centre took place on the sidelines of the 2019 Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology.

APRA Seeks Standardised Quarterly Reporting Dates

13/11/2019

The proposed standardised due date is 35 calendar days after the last day of the reference quarter, which will create a 14 calendar day extension for credit unions and building societies.

Securities / Derivatives

SET Launches Interbank Payment System for Securities Transactions

13/11/2019

The new system will provide greater convenience for investors, alleviate intermediaries’ cash management burden, and mitigate payment risks in the banking system.

Securities / Derivatives

MAS Grants Dalian Commodity Exchange RMO Licence

12/11/2019

China’s Dalian Commodity Exchange has been recognised by the MAS as a market operator, allowing it to promote iron ore futures to Singapore investors.

Enforcement

UBS to Pay HK$600m in Fines and Compensation for Overcharging Clients

12/11/2019

The SFC reprimanded and fined UBS for overcharging clients over a ten-year period, affecting 5,000 Hong Kong-managed client accounts in over 28,000 transactions.

Fintech / Regtech

MAS, Deloitte, S&P Launch Fintech Investment Research Platform

12/11/2019

The new platform, launched by MAS, Deloitte and S&P Global Market Intelligence, will help financial institutions and investors to more effectively discover investment opportunities in the fintech space.

Market Infrastructure

ABS Announces Simplified PayNow Mobile Payments with SGQR

12/11/2019

The Association of Banks in Singapore is trying to increase the convenience of peer-to-peer funds transfer service PayNow and make it “the ubiquitous payment mode in Singapore”.