Data Privacy

Taiwan to Tighten Rules on Chinese Investment – Report

02/07/2020

New rules will empower Taiwan’s government to investigate whether funds from Hong Kong or other countries are actually from Chinese investors.

Payments & Settlements

BSP Approves New Payment System Oversight Framework

02/07/2020

The BSP will be empowered to designate a payment system as systemically important, and replace its operator for a failure to satisfy regulatory obligations.

Clearing & Post-Trade

S. Korea Advances OTC Derivatives Reforms

02/07/2020

Cabinet-approved legislative revisions will introduce an OTC derivatives reporting requirement, a licensing system for trade repositories, and penalties for circumventing margin rules.

Anti-Money Laundering

Automatic Exchange Uncovers €10tr in Offshore Accounts in 2019

02/07/2020

The automatic exchange of information by tax authorities in nearly 100 countries uncovered data on 84 million accounts held offshore in 2019.

Supervision & Enforcement

APRA Heatmap Having Desired Effect on Super Fees

02/07/2020

APRA is putting more than a dozen MySuper trustees on notice that it is considering enforcement action against those that continue to underperform on fees.

Anti-Money Laundering

BCBS Updates AML Guidance to Advance Supervisory Cooperation

02/07/2020

Prudential and AML/CFT supervisors should establish an effective cooperation mechanism regardless of the institutional setting, the updated guidelines say.

Liquidity Risk

PBOC Cuts Funding Costs for Small Firms, Rural Sectors

02/07/2020

The PBOC has cut the rediscount rate for the first time in a decade, and the relending rate for the second time this year.

Credit Risk

Sri Lanka: CBSL to Absorb Credit Risk on Business Loans

02/07/2020

The CBSL will provide credit guarantees ranging from 80% for smaller loans to 50% for larger loans issued to businesses affected by Covid-19.

Conduct, Culture & Accountability

SocGen Australia Pleads Guilty to Client Money Offences

02/07/2020

SocGen failed to pay client money into segregated authorised bank accounts and made payments out of a client money account that were not permitted.