AML / KYC

SFC AML/CFT Guideline Revisions to Take Effect in November

15/10/2018

A July consultation proposed amendments to improve the Guideline’s usefulness and relevance and ensure its alignment with international AML/CFT standards.

Securities / Derivatives

China Releases Guidelines on Shanghai-London Stock Connect

15/10/2018

The guidelines set a minimum cap for London-listed firms seeking to issue depository receipts in China, among other requirements.

AML / KYC

China Issues AML/CTF Rules for Online Financial Institutions

12/10/2018

Online FIs required to verify client identities, monitor terrorist organisations and activities, properly store client information and transaction records, and report large-value and suspicious transactions.

AML / KYC

Taiwan FSC to Probe Recent Fee Hikes at Banks

12/10/2018

Seven state-banks have raised fees for foreign remittances, saying the extra charges are needed to offset costs associated with upgrades to money laundering controls.

Securities / Derivatives

India Permits Commodity Derivatives Trading by Foreign Investors

10/10/2018

Trading limits will be based on foreign investors’ actual exposure to India’s commodity markets, which needs to be verified and monitored by brokers and exchanges.

Fintech / Regtech

MAS Issues Guidelines on Provision of Robo-Advisory Services

09/10/2018

Guidelines allow digital advisers to pass client orders to brokerage firms for execution without the need for an additional capital markets services licence.

Enforcement

ASIC Permanently Bans Another Former NAB Branch Manager

09/10/2018

The branch manager knowingly provided false or misleading information and documentation in loan applications and falsely attributed them to a relative for introducer commissions.

Market Infrastructure

New Platform for Northbound Trading Set for Mid-2019 – HKEX

08/10/2018

New information paper presents an overview of the migration of HKEX technology infrastructure for northbound trading under Stock Connect.

Capital / Liquidity

China Announces RRR Cut as Markets Resume Trading

08/10/2018

Announced at the end of a week-long national holiday, the RRR cut will free up $175bn in liquidity for banks to repay MLF funding and boost business lending.