Enforcement

S. Korea FSS Chief Resigns Amid Hiring Scandal Allegations

13/03/2018

Choe Heung-sik denies allegations he helped a friend’s son get a job while he was president of Hana Financial Group; resigns anyway.

Fintech / Regtech

South Korea’s FSC Proposes Fintech Link with Indonesia

10/03/2018

Choi Jong-koo also lobbies to allow Korean firms to expand their business remits in the Southeast Asian country.

Securities / Derivatives

Vietnam Announces Risk Hedging Rules for Warrant Issuers

09/03/2018

Hi Chi Minh Stock Exchange to launch covered warrants in late March; issuers required to hold adequate underlying securities and submit daily reports to the exchange.

Enforcement

Sri Lanka to Bail Out Finance Company Depositors

09/03/2018

The central bank has cancelled troubled finance company CIFL’s licence and doubled the maximum deposit insurance payout for each depositor.

AML / KYC

Credit Reporting Regime Must Be Fair: ABA

09/03/2018

Banking association says new regime needs a way to flag special circumstances in credit histories to prevent discrimination against customers.

AML / KYC

New Initiative to Help Boost Correspondent Banking Relationships

08/03/2018

Wolfsberg Group Questionnaire has potential to reduce costs associated with KYC application and streamline the establishment and maintenance of correspondent banking relationships.

Enforcement

SBI Fined for Noncompliance with Counterfeit Currency Rules

08/03/2018

Central bank investigators found that State Bank of India had not complied with rules on detection and impounding of counterfeit notes.

Market Infrastructure

Thailand, Indonesia Boost Capital Markets Cooperation

08/03/2018

Extension of MoU includes cooperation on cross-border transactions, product development, information technology and knowledge sharing.

Enforcement

S. Korea Seeks Powers to Fine False-Name Bank Accounts

07/03/2018

Legislative reforms aimed at granting FSC powers to collect fines of over 50 percent of assets found in false-name bank accounts.