Anti-Money Laundering

Malaysia Proposes Cash Payment Limit to Curb Financial Crime

08/11/2019

The central bank says any action aimed at circumventing the proposed 25,000 ringgit cash transaction limit would be considered an offence for both the payer and payee.

KYC & CDD

SEBI Allows Intermediaries, Funds to Use Aadhaar for e-KYC

08/11/2019

Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.

Fraud, Scams & Cybercrime

Fintel Alliance Is Critical to Financial Crime Fight: AUSTRAC

07/11/2019

The Fintel Alliance reveals its operational results in its annual report. A second report sets out financial indicators to help FIs detect and report child sexual exploitation.

Trading & Investment

CSRC Plans Additional Reforms to Ease Access to STAR Market

07/11/2019

The reforms include the removal of first day trading limits and faster processing of applications from companies seeking a listing.

Tokenisation

MAS Approves Sandbox Launch of Blockchain Based Bond Exchange

07/11/2019

Singapore-based fintech BondEvalue will use a permissioned blockchain to enable electronical trading of bonds, in $1,000 denominations, with instant settlement and greater price transparency.

Conduct, Culture & Accountability

SFC Bans Former HSBC Relationship Manager for One Year

07/11/2019

The former relationship manager used incomplete application forms pre-signed by the client to effect unit trust transactions without specific authorisation.

Trading & Investment

China, Hong Kong to Establish Wealth Management Connect Scheme

07/11/2019

The scheme will enable residents of Hong Kong and other GBA cities to invest in wealth management products in each other’s market through their respective banking systems.

Liquidity Risk

RBI Revises NBFC Rules on Liquidity Risk Management

07/11/2019

The guidelines impose minimum LCR requirements on larger NBFCs from December 2020 and additionally seek to enhance early detection of liquidity risks in the sector.

Cloud & Infrastructure

FTAHK, AFIN Agree to Collaborate to Support API Exchange

07/11/2019

AFIN and FTAHK will collaborate on initiatives to support the development of financial innovations on APIX, an online marketplace and sandbox for cross-border fintech services.