AML / KYC

US Judge Subpoenas Chinese Banks in Sanctions Probe – Report

07/05/2019

A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.

Securities / Derivatives

SGX Central Depository Moves to Digital Account Opening

07/05/2019

CDP account opening can now be done online without paper documents, allowing for greater convenience, security and “a better experience” for retail investors.

Enforcement

RBI Fines Multiple Payment Service Providers

06/05/2019

The RBI has fined prepaid payment instrument issuers, two US money transfer firms and Yes Bank for non-compliance with regulatory guidelines.

Market Infrastructure

Securities Association Says MPFA Needs to Enable China Market Access

06/05/2019

MPF managers are allowed to invest in 40 approved overseas exchanges, but this does not include exchanges in China.

AML / KYC

Japan to Halt Overseas Transfers that Bypass Bank Accounts

06/05/2019

In preparation for this year’s FATF review, Japanese banks will reportedly terminate counter services for overseas remittances that bypass bank accounts.

Fintech / Regtech

FIs Need to Automate to Meet Tax Reporting Obligations – Report

06/05/2019

As tax reporting requirements grow increasingly complex, automation is making compliance cheaper, quicker and more efficient, says a new report from Regulation Asia and BearingPoint.

Fintech / Regtech

S. Korea FSC Accepts Nine More Fintech Sandbox Participants

03/05/2019

Nine new fintech firms have been approved to enter the FSC’s regulatory sandbox, bringing the total number of participating firms to 18.

Capital / Liquidity

10 Major Chinese Banks Planning Perpetual Bond Issuances

03/05/2019

Following BOC’s perpetual bond issuance in January, 10 more Chinese banks have announced plans to issue similar bonds, including ABC, ICBC and CCB.

Securities / Derivatives

CSRC to Roll Back Private Placement Restrictions – Report

03/05/2019

The CSRC is reexamining February 2017 restrictions on private placements, to address difficulties for listed companies in financing debt roll-over, working capital and expansion.