Capital / Liquidity

Vietnam to Rank Domestic, Foreign Financial Institutions

05/02/2019

The rankings will be used to alert the central bank to risks at financial institutions in the interest of safeguarding the banking system and protect depositors.

Myanmar Allows 35pc Foreign Ownership in Local Banks

05/02/2019

Foreign funding will support growing demand for financing and help banks upgrade loan screening and data systems.

Fintech / Regtech

SEBI Directs Market Infrastructures to Disclose AI, ML Use

05/02/2019

Stock exchanges, clearing corporations, depositories required to disclose their use of artificial intelligence and machine learning starting from the current quarter.

Crypto / Digital Assets

Thailand Unveils Three-year Capital Market Development Plan

05/02/2019

The SET’s plan is aimed at broadening its investor base, scaling up digital transformation, widening access to mutual funds and streamlining regulatory processes.

AML / KYC

HKMA’s Regulatory Expectations of Remote Customer On-boarding

05/02/2019

Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.

Fintech / Regtech

Global Innovation Sandbox Opens for Cross Border Testing

04/02/2019

The GFIN’s 29 members include the HKMA, SFC, MAS and ASIC. Applications are now open for firms looking to test innovative cross border financial services.

AML / KYC

UPDATED – Bangladesh Bank Files New York Lawsuit over Cyber Heist

04/02/2019

Bangladesh Bank has filed a $66mn lawsuit against Philippines-based RCBC and others over the 2016 bank heist, where hackers stole $101mn from its account with the New York Fed.

Enforcement

PBOC Sets Up New Bureau to Oversee Financial Regulation

04/02/2019

China’s central bank has set up a new macro-prudential management bureau to monitor financial systemic risks, draft rules and advise on currency issues.

Securities / Derivatives

UPDATED – Hong Kong SFC Revamps Licensing Processes

04/02/2019

The move is aimed at halting “rolling bad apples” in their tracks by requiring firms to provide the SFC with details about employee departures, says Herbert Smith Freehills.