Capital / Liquidity

BOK, FSS Launch Joint Audit into Major Banks’ Lending Practices

17/04/2019

The focus of the joint audit will be on the small business lending practices at Shinhan Bank, KB Kookmin Bank, Woori Bank and KEB Hana Bank.

Capital / Liquidity

S. Korea Basel III Adoption is Credit Negative – Moody’s

17/04/2019

The reforms will lower the risk weights Korean banks use, resulting in reduced risk-weighted assets and freed-up capital, which will likely be used for new loans or to pay out dividends.

Fintech / Regtech

South Korea to Debut Open Banking in December

17/04/2019

Following two months of industry deliberation, the FSC has said the new open banking system will be piloted in October, and fully implemented in December.

AML / KYC

Singapore Charges its First National for Terrorism Financing

17/04/2019

Singapore’s Ministry of Home Affairs has confirmed that a Singaporean man has been charged for allegedly financing the publication of ISIS propaganda.

Enforcement

APRA Adopts New, Tougher Enforcement Approach

17/04/2019

Under the new enforcement approach, APRA will be more willing to use its full range of powers to deter bad practices and hold entities and individuals to account.

AML / KYC

FATF to Adopt ‘Open-ended’ Mandate Starting in 2020

17/04/2019

The new open-ended mandate recognises FATF’s leadership role and strengthens its capacity to respond to threats facing the financial system.

Securities / Derivatives

China Announces Tax Breaks for Investors in CDRs

17/04/2019

Investors will be exempt from tax on profits from trading CDRs for three years, in addition to preferential tax treatment on dividend income.

Securities / Derivatives

Malaysia Consults on Migration to Scripless Securities Market

17/04/2019

Bursa Malaysia has issued new rule amendments to facilitate a move towards paperless record keeping and certificate issuance for the securities market.

Enforcement

Citigroup Australia to Refund Customers for Complex Product Losses

16/04/2019

The A$3mn compensation programme follows an ASIC investigation which found that 114 retail investors lost money from investing in complex products based on improper advice.