Anti-Money Laundering

BNM to Enforce AML Compliance at Law Firms in 2020

30/08/2019

BNM assistant governor Encik Adnan Zaylani Mohamad Zahid warns that enforcement action will be taken against legal professionals for AML non-compliance starting in 2020.

Trading & Investment

SEBI Extends Deadline for New Rules on Handling Client Securities

30/08/2019

Following feedback from stock exchanges and market participants, SEBI has decided to extend the effective dates in a June circular by one month.

Resolution & Recovery

UPDATED – PBOC Mulls New Rules to Reduce Risk at Smaller Banks

30/08/2019

The PBOC will encourage merger talks instead of bankruptcies when dealing with problematic financial institutions.

Operational Risk

APRA to Improve Capabilities to Combat Non-Financial Risks

30/08/2019

In its four-year corporate plan, APRA identifies four areas of strategic focus, including to improve cyber-resilience and governance standards in the financial sector.

Credit Risk

HKMA Allows Lenders to Expand Use of Tech in Retail Lending

30/08/2019

The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.

Structural Regulation

MAS Opens Applications for Digital Bank Licences

30/08/2019

Successful applicants will be announced in mid-2020, with the expectation that they meet MAS requirements and commence business by mid-2021.

Market Abuse

Tokyo Bourse Penalises Nomura for Information Leak

30/08/2019

The TSE says internal controls at Nomura Securities were insufficient, and measures it took after a similar incident in 2012 did not seem to have improved compliance.

Clearing & Post-Trade

WFE Warns EMIR 2.2 Could Unduly Fragment Global Markets

29/08/2019

The WFE has issued a letter to the European Commission and ESMA outlining principles it says would support the objectives of EMIR 2.2 while limiting its negative consequences.

Supervision & Enforcement

APRA Finalises Rules for How Super Funds Must Assess Performance

29/08/2019

Starting in January, superannuation licensees will be required to perform business performance reviews to assess whether they are delivering sound, value-for-money outcomes for members.