AML / KYC

SFC Fines BMI Securities, Suspends RO for AML Breaches

11/02/2020

The SFC has fined BMI Securities HK$3.7mn and suspended one of its responsible officers for failures to comply with AML/CFT obligations.

Market Infrastructure

Sri Lanka Should Start LIBOR Transition ‘Immediately’ – ICRA

11/02/2020

The central bank, financial institutions, and companies must assess the impact, and the LIBOR transition should start “immediately”, says ICRA Lanka, a Moody’s group company.

ESG / Sustainability

Hedge Funds Face High Expectations on ESG Adoption

11/02/2020

ESG and sustainability considerations have become a ‘must-have’ in the hedge fund industry, says a new report from KPMG, AIMA, CAIA and CREATE-Research.

Fintech / Regtech

AI Expected to Become Key Business Driver in Two Years – Survey

11/02/2020

The Cambridge Centre for Alternative Finance and World Economic Forum, with support from EY and Invesco, shed light on the evolving landscape of AI-enabled financial services.

Capital / Liquidity

RBI Expands One-Time Restructuring Scheme for MSME Loans

11/02/2020

The benefit of one-time restructuring will be extended to include MSME loans in default as of 1 January 2020, with the debt restructuring window also extended to 31 December 2020.

Enforcement

RBNZ Launches Streamlined External Whistleblowing Policy

11/02/2020

“Whistleblowing is a critical avenue for those wanting to shine a light on wrongdoing within regulated entities,” said RBNZ head of supervision Andy Wood.

Securities / Derivatives

Quarterly Reporting Required for 109 Companies: SGX

11/02/2020

94 companies required to use quarterly reporting are issuers with audit concerns, 6 have outstanding regulatory concerns, and 9 are named under both categories.

Capital / Liquidity

PBOC Offers Banks Low-Cost Funding to Support Epidemic Control

11/02/2020

Banks are required to use the special funding to support activities by companies directly linked to controlling the outbreak through loans issued at below-market interest rates.

Enforcement

Australia Passes Bills to Enhance Consumer Protections, Strengthen ASIC

10/02/2020

The bills introduce a best-interests duty for mortgage brokers, ban unfair contract terms in insurance, and enable ASIC to more effectively enforce existing laws.