AML / KYC

Malaysia Files Criminal Charges Against Goldman Sachs over 1MDB

17/12/2018

Malaysian prosecutors have filed criminal charges against three Goldman subsidiaries and two former employees, seeking fines in the billions of dollars and jail terms of up to 10 years.

AML / KYC

AUSTRAC Publishes AML/CTF Guidance for Superannuation Sector

17/12/2018

While superannuation is not traditionally associated with financial crime exploitation, AUSTRAC’s risk assessment has rated the sector as medium risk.

Capital / Liquidity

HKMA Issues Revised SPM for Local IRRBB Implementation

17/12/2018

Authorised institutions should be ready to measure and report IRRBB exposures using the new standardised framework by 1 July 2019.

Market Infrastructure

Hong Kong Faces Skills Shortage in Fintech, Cybersecurity – Survey

17/12/2018

Fintech and cybersecurity were viewed as the areas with the largest skills shortage, followed by a skills gap in regulatory and compliance knowledge.

Capital / Liquidity

Myanmar’s First Credit Bureau to Become Operational Within a Year

17/12/2018

Using software from Equifax, the new credit bureau will enable lenders to use credit histories to calculate bad debt risk and potentially lower the need for collateral.

AML / KYC

Stock Connect to Introduce Investor ID Regime for Southbound Trading

17/12/2018

Launched on 26 September for northbound trading, the investor identification regime will be introduced for southbound trading by the end of Q1 2019.

Capital / Liquidity

New Zealand Proposes to Nearly Double Bank Capital Requirements

17/12/2018

The proposal would set a Tier 1 capital requirement equal to 16% of risk-weighted assets for the big four banks, and 15% for other banks, up from 8.5% currently.

Capital / Liquidity

KDIC to Enhance Defences Against Defaults by Financial Firms

14/12/2018

The Korea Deposit Insurance Corp will upgrade its risk assessment and monitoring system in 2019 to protect against the credit risks of financial firms.

Capital / Liquidity

Basel Committee Consults on Leverage Ratio Disclosure Enhancements

14/12/2018

The Basel Committee on Banking Supervision seeks to revise leverage ratio disclosure requirements to address arbitrage and window-dressing by banks.editors