AML / KYC

FATF Finalises AML/CFT Guidance for Service Providers

01/07/2019

New guidance for legal, accounting, and trust and company services professionals highlights the importance of identifying and verifying beneficial ownership information through due diligence.

Fintech / Regtech

MAS to Issue Up to Five Digital Bank Licences

01/07/2019

The initiative effectively extends digital bank licences to non-bank players, as existing banking groups in Singapore already have a framework for setting up digital bank subsidiaries.

Market Infrastructure

Wolfsberg Group Publishes CBDDQ Capacity Building Materials

01/07/2019

The materials include high level training videos and detailed guidance on the questionnaire, aimed at facilitating its implementation and halting the decline in correspondent banking.

Fintech / Regtech

ASIC Proposes New Rules for Market Operators, Participants

30/06/2019

The proposals seek to ensure resilience of critical systems, reliability of outsourced services, and appropriate management of cyber and data security risks, among other requirements.

Securities / Derivatives

NZX Has Enhanced its Surveillance Function, says FMA

30/06/2019

The NZX improved its market surveillance function in response to last year’s FMA review. It is also planning to complete a trading system upgrade next year, using NASDAQ technology.

Capital / Liquidity

National Auditor Finds Lending Violations at Chinese Banks

28/06/2019

Lenders were found to be favouring borrowers with deposits at their banks, linking loans to the sale of other products, and illegally charging financing fees.

Securities / Derivatives

RBI Issues Consolidated Directions for Interest Rate Derivatives

28/06/2019

Under the new directions, stock exchanges and OTC market-makers have been given the flexibility to design and structure IRD products tailored to the needs of market participants.

Market Infrastructure

JBA Responds to Hong Kong OTC Derivatives Consultation

28/06/2019

The Japanese Bankers Association asks the HKMA and SFC to develop rules that automatically assign the UTI generation responsibility, rather than rely on bilateral agreement between counterparties.

Market Infrastructure

S. Korea to Ease Rules for Brokerage, Asset Management Sectors

28/06/2019

The FSC is trying to spur competition in the capital market, and encourage the establishment of new brokerages. Only six new brokerages have been set up in Korea since 2010.