AML / KYC

AUSTRAC Trials Reporting Automation through Smart Contracts

26/02/2019

The proof of concept project commenced in December 2018 and aims to help reporting entities automate the reporting of international funds transfers to AUSTRAC.

Fintech / Regtech

BSP Streamlines Licensing Process e-Financial Services Firms

25/02/2019

The move is in line with BSP’s reform agenda to promote digital innovation and increase availability of safer and more efficient channels for financial services.

Market Infrastructure

Malaysia to Introduce Technology Risk Policy in June – Report

25/02/2019

BNM plans to introduce its policy on technology risk management in June, providing guidelines for financial institutions to combat the rising incidence of cybercrime.

Securities / Derivatives

Hong Kong Passes Profits Tax Exemption Bill for Funds

25/02/2019

The Bill seeks to enhance the competitiveness of Hong Kong’s tax regimes by creating a level playing field for all funds operating in the city.

Securities / Derivatives

Nine Taiwan Brokers Approved to Issue ETNs – Report

22/02/2019

The Taiwan Stock Exchange and GreTai Securities Market have so far approved a total of 9 securities firms to issue exchange traded notes in Q2 this year.

HKMA Chief of Ten Years Set to Retire in September

22/02/2019

Norman Chan will leave behind a healthy banking industry with strong capital ratios and low bad debt levels. A selection panel will identify the HKMA’s next chief.

Market Infrastructure

No-Deal Brexit to Have Little Impact on S. Korea, says FSS

22/02/2019

If the UK crashes out of the EU without an orderly exit deal in place, the damage to South Korea’s economy will be slight, according to the Financial Supervisory Service.

AML / KYC

China Strengthens AML/CFT Regime with New Guidance

22/02/2019

CBIRC has released guidance to help financial institutions improve AML/CFT controls, on the heels of recent news that PBOC is scrapping its approval process for corporate accounts.

Securities / Derivatives

SEBI Revises Haircuts on G-Secs Used as Stock Trading Collateral

22/02/2019

Following feedback from clearing corporations, there will now be three haircut slabs depending on the type and tenure of government securities.