Anti-Money Laundering

Singapore Convicts a Second National for Terrorism Financing

15/01/2020

Imran Kassim became the first Singapore national to be charged for terrorism financing last April, but is the second to be convicted and sentenced.

Trading & Investment

SET Scraps Lunch Break for Trading Cross Border Products

14/01/2020

The move is aimed at increasing the overlap time for trading between the Thai and ASEAN stock exchanges.

Structural Regulation

Japan FSA Issues New Guidance on Asset Manager Registration

14/01/2020

The guidebook is aimed at facilitating the smooth entry of asset management and other financial instruments businesses into Japan’s capital markets.

Emerging Prudential Risks

Vietnam Central Bank, Two Others Invited to Join BIS Membership

14/01/2020

The central banks of Vietnam, Kuwait and Morocco have been invited to become BIS members, the first expansion of its member base since 2011.

Structural Regulation

SFC Lifts UBS Underwriting Suspension Two Months Early

14/01/2020

The SFC is satisfied that UBS has adequate and effective systems, controls, policies and procedures to enable compliance with all requirements in relation to its sponsor business.

Payments & Settlements

RBI Amends Penalties Framework for Payments System Operators

14/01/2020

The new penalty for violations will be capped at 500,000 rupees, or double the amount of contravention, whichever is higher.

Credit Risk

RBI Imposes Restrictions on Another Cooperative Bank

14/01/2020

Sri Guru Raghavendra Sahakara Bank is not allowed to grant or renew loans and advances, make investments, borrow funds or accept fresh deposits.

Structural Regulation

Singapore Fintech Awarded Philippine Licence to Operate Digital Bank

14/01/2020

TONIK Digital Bank will be the first “pure-play” digital bank in Southeast Asia, focusing on retail deposits and consumer loans.

Conduct, Culture & Accountability

ASIC to Audit Broker Sales of Listed Investment Funds

14/01/2020

ASIC is reviewing whether sales commissions paid by fund managers to brokers or financial advisers to sell funds compromise the best interests of investors.