Enforcement

FSS to Conclude Probe into Derivatives Mis-selling This Week

28/10/2019

The FSS will conclude its investigation into KEB Hana and Woori Bank this week. KEB Hana and its CEO are expected to face higher penalties for ‘obstructing’ the investigation.

Enforcement

SEBI, US SEC Probe IT Major Infosys for “Unethical Practices”

28/10/2019

SEBI and the US SEC are probing Infosys after whistleblowers alleged costs were under-reported to inflate profits and “critical information” was hidden from auditors and the board.

AML / KYC

ACIP Workshop: Key Challenges to Deploying AML Data Analytics

28/10/2019

The workshop participants discussed two of the key challenges to implementing data analytics systems to fight financial crime – explainability and governance.

Enforcement

ICAC Charges Two for Conspiracy to Defraud Five HK Banks

28/10/2019

Two operators of an SME conspired to defraud DBS Bank, HSBC, ICBC, Dah Sing Bank, Wing Hang Bank, the Trade and Industry Department, and the Hong Kong Mortgage Corporation.

AML / KYC

Australia Introduces Bill to Ease CDD Compliance Burden

27/10/2019

The bill allows reporting entities to rely on CDD procedures performed by a third party. Meanwhile, a bill to limit cash payments to A$10,000 nationwide passes the lower house.

Market Infrastructure

New Zealand Delays Start of New Licensing Regime

27/10/2019

The start date is being delayed to coincide with the date new regulations needed for transitional licensing take effect.

Market Infrastructure

BOT Solicits Comments on Draft ‘Thailand FX Code’

27/10/2019

The BOT invites wholesale FX market participants to comment on a draft ‘Thailand FX Code’ by 25 November.

Fintech / Regtech

TSE to Explore New Uses for Margin Trading, Short Selling Data

26/10/2019

Data relating to margin transactions and short selling will be made available to testing participants to identify possible new applications of the data.

Fintech / Regtech

HKMA Updates Guidance on E-Banking Risk Management

25/10/2019

The updated supervisory policy manual seeks to strengthen risk management controls in electronic banking channels by providing more principle-based guidance.