AML / KYC

Hong Kong SFC Looks to Optimise Enforcement Action

18/01/2018

New guidance removes threat of criminal prosecution in cases of “non-serious” regulatory breaches and cooperation ‘above and beyond’ regulatory obligations.

AML / KYC

Philippines Will Now Report Cross Border Banking Stats to BIS

17/01/2018

BSP has begun reporting international banking statistics from January 2018, having met BIS standards for completeness and quality.

AML / KYC

Singapore Activates 61 AEOI Relationships for 2018

17/01/2018

The country will automatically exchange tax information from January 2017 with 61 countries under the OECD’s Common Reporting Standards.

AML / KYC

SFC Urges Licensees to File “Better Quality” Suspicious Transaction Reports

17/01/2018

Circular sent to firms following a feedback report issued by the Joint Financial Intelligence Unit.

Securities / Derivatives

China Tightens Rules on Stock Pledges, Repos

17/01/2018

Shenzhen, Shanghai exchanges confirm stock pledges and repos must serve real economy, limit proportion of stock allowed to be pledged.

AML / KYC

HKMA Proposes Open APIs for Financial Services

15/01/2018

Consultation suggests it could take just six months for banks to develop APIs including their product and service information.

Capital / Liquidity

EBA Publishes Final Disclosure Requirements for IFRS 9 Transitional Arrangements

14/01/2018

Uniform disclosure template ensures consistency and comparability of data disclosed by institutions during the transition to full IFRS 9 implementation.

Capital / Liquidity

Australia Licences Seven Crowd-Funding Intermediaries

14/01/2018

Eligible public companies can raise up to AUD 5 million in funds through equity crowdfunding and will face fewer regulatory requirements for fundraising.

AML / KYC

Registration with Financial Information System Compulsory – Indonesia Regulator

11/01/2018

Move will require all financial services firms operating in the country to provide customers identification and tax details to the regulator by 2022.