Capital / Liquidity

China to Clampdown on Money Laundering via Property Market

06/11/2017

**Developers to conduct due diligence checks on sources of funding, buyers must use their own accounts to make property purchases in AML drive.
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Capital / Liquidity

Hong Kong Sets out Internal Audit Requirements for Authorised Institutions

02/11/2017

HKMA says audit functions must be separate from risk and compliance; will only allow outsourcing ‘under very limited circumstances’.

Enforcement

1MDB Saga Rumbles on in Singapore with Bans for Ex-Maybank, NRA Capital Staff

02/11/2017

Individuals banned for six years after conviction for 1MDB-related bribe; former representative of BSI Bank faces lifetime ban.

Capital / Liquidity

HK SFC Launches Thematic Review of Prime Brokerage, Equity Derivatives

01/11/2017

Regulator says prime brokerage a growing revenue stream for institutions as Hong Kong’s asset management, hedge fund sectors expand.

Capital / Liquidity

PBOC Targets ‘Shadow Financing’ by Tech Firms

01/11/2017

Central bank says many firms representing as technology providers are in fact providing finance for clients who can’t access conventional resources.

Market Infrastructure

Indonesia, Vietnam Join Virtual Currency Clampdown

30/10/2017

Indonesian central bank says ‘financial innovation’ requires pre-approval; State Bank of Vietnam to pass law outlawing virtual currencies next year.

AML / KYC

Guangdong, HK to Boost Financial Cooperation

30/10/2017

Governments to relax restrictions on cross-border business operations and boost RMB flows; cooperate further on fintech and green finance.

AML / KYC

Philippines to Ease Forex Rules, Ending Registration System

30/10/2017

Central bank governor says rules will be relaxed so inbound investment, private sector foreign currency borrowing require reporting, not registration.

Capital / Liquidity

BCBS Gives Banks Just 2.5 Years to Work-out Step-in Risk

26/10/2017

Step-in risk guidelines due to be implemented by 2020 will require reporting rather than additional liquidity or capital charges.