Conduct, Culture & Accountability

Thailand Implements New Market Misconduct Penalty Scheme for Banks

20/01/2018

New market conduct rules to be implemented over next few weeks; Violators can be barred from operating or fined up to 1mn baht per day.

Structural Regulation

HK’s Financial Reporting Council to be Given Extended Powers

20/01/2018

Treasury for Financial Services and the Treasury says FRC to given independent oversight, inspection and disciplinary powers.

Anti-Money Laundering

US Fed Fines Taiwanese Bank $29mn for AML Failures

19/01/2018

US Federal Reserve Board cites deficiencies in Mega Bank’s operations, risk management and compliance controls in relation to AML and bank secrecy laws.

Credit Risk

Vietnamese Banks Warned Against High-Risk Lending

19/01/2018

Central bank warning comes as prime minister asks for increased inspection and supervision over banks.

Supervision & Enforcement

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.

Structural Regulation

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.

Anti-Money Laundering

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.

Anti-Money Laundering

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.

Credit Risk

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.