AML / KYC

Taiwan FSC to Establish Platform for Information Security

19/10/2017

Order issued after reports that hackers breached bank’s online transaction system and stole $60mn which was distributed via SWIFT.

Enforcement

New Zealand Exempts Personalised Robo-advice from Licensing Regime

19/10/2017

Providers still need to be pre-approved to offer financial advice; new rules formalising licensing of robo-advice per se expected in 2019.

Market Infrastructure

10,000 Individuals Register Under Hong Kong MIC Regime

19/10/2017

About 40% of individuals to have registered under MIC so far are unlicensed as they are in charge of operations or control functions, SFC says.

Capital / Liquidity

ASEAN Integration Framework on Course for Completion by 2020

19/10/2017

Banking integration framework will allow cross-border operation by lenders from 10 Southeast Asian nations, BSP official confirms.

Capital / Liquidity

HK Legco to Consider Recovery Planning, Large Exposures Bill

19/10/2017

Banking Ordinance already includes resolution, but not recovery, requirements; HKMA to retain ‘general power’ on exposure limits.

Malaysia to Introduce Bank Employee Screening, Ethics Requirements

16/10/2017

Central bank moves to improve ethics within the industry, will require banks to introduce minimum conduct standards and policy.

Enforcement

India Releases Draft Rules for Electronic Trading Platforms

16/10/2017

Move comes as National Stock Exchange bids to end case of alleged unfair access via its co-location facility by offering to pay fine.

BCBS Set to Finalise Last Two Elements of Global Policy Agenda

16/10/2017

BCBS secretary general tells IMF it will publish step-in risk guidelines next month, leaving capital output floor as final element of policy agenda.

Market Infrastructure

US, Europe Agree Margin Requirement, Trading Venue ‘Comparability’

16/10/2017

Swap dealers or major market participants subject to EC margin rules can assume ‘substituted compliance’ when dealing in US.