Capital / Liquidity

SAS, KPMG Launch Microsoft Azure-based IFRS 9 Solution

31/08/2017

Technology will be offered 1st in Singapore to meet January 2018 IFRS 9 deadline, can be extended to stress testing and other regulatory requirements.

Fintech / Regtech

HKMA Launches New Round of Trade Repository Testing

28/08/2017

Two-stage testing of Phase 2 reporting to depository covers interest rate, foreign exchange, equity, credit and commodity derivatives.

Capital / Liquidity

Philippine Central Bank Strengthens Compliance Standards

28/08/2017

Chief compliance officer must be full-time, boards given overarching responsibility; foreign banks must translate all documents into English.

AML / KYC

Lawyers Seek to Sue Bank for Share Price Drop after AML Revelations

24/08/2017

Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.

Enforcement

Japan FSA to Set up Anti Cybercrime, Money Laundering Bureau

23/08/2017

Internal reorganisation acknowledges growing role of fintech, which will be regulated by FSA Planning and Coordination Bureau with enhanced powers.

Securities / Derivatives

ISDA Urges EU Not to Force Local Clearing Post Brexit

23/08/2017

Trade organisation says move to local CCPs could push up initial margin costs by 20% or more; cites Australian equivalency model.

Enforcement

Indian Brokers’ AML Compliance Under Heightened Scrutiny

20/08/2017

SEBI warned nearly 500 entities on possible money laundering over the last financial year; conducted 245 investigations into illegal stock market activity.

Capital / Liquidity

Malaysia Launches Leverage Ratio Consultation

17/08/2017

Banks will be required to calculate leverage ratios as of June 30 this year in response to consultation before full requirement comes into effect.

Securities / Derivatives

HK Auditing Brokers’ Protection of Client Assets

31/07/2017

Regulator cites weaknesses in internal account protection controls despite warnings; IOSCO report says HK due diligence to safeguard client rights […]