AML / KYC

China Raises AML Concerns About Non-financial Sectors

05/10/2017

PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.

Enforcement

Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions

04/10/2017

Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.

Fintech / Regtech

Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks

04/10/2017

Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.

Market Infrastructure

Vietnam to Increase Scrutiny of Electronic Trading for Security Loopholes

04/10/2017

Brokerages will be required to report more data, ensure their systems are transparent, fair, secure and compliant with national laws.

AML / KYC

Chinese Money Laundering or Capital Transfer – ‘Vive la Différence’

02/10/2017

Financial technology and digital payment systems are abetting the greatest money laundering campaign in the history of finance.

Fintech / Regtech

CPMI, IOSCO Call for Uniformity in UPI Creation, Reporting

02/10/2017

Report proposes that each UPI maps to reference data which indirectly describes an OTCD product without identifying transaction details.

Capital / Liquidity

India Insolvency Information Utility Granted 5-year License

02/10/2017

Bank-owned NESL wins license to operate utility which shares information on financial contracts as part of efforts to clean up bad loans.

Capital / Liquidity

Malaysia Extends NSFR Implementation Deadline to 2019

02/10/2017

Central bank cites uncertainty and divergence from original 1 January 2018 deadline elsewhere, suggests NSFR of Malaysian banks already at 100%.

Capital / Liquidity

Hong Kong Belatedly Joins Singapore in Pushing Back IRRBB

28/09/2017

Implementation delayed by a year as firms say they might not have met original deadline due to having to make substantial changes to reporting systems.