Anti-Money Laundering

Report Sets out Macau AML/CTF Weaknesses

03/12/2017

Asia Pacific Group says authorities have not yet grasped cross-border AML risks, but praises use of intelligence to produce suspicious transaction reports.

Conduct, Culture & Accountability

Australian Securities Regulator Fines VW Financing Arm

30/11/2017

Move hints at increasing global concern that car finance, fuelled by low interest rates, could be source of next sub-prime crisis.

Clearing & Post-Trade

SGX Revamping Securities Settlement Processes

30/11/2017

Exchange consultation proposes move to T+2 settlement, simultaneous securities, money settlement in bid to prevent systemic risk.

Credit Risk

South Korea to Write off $5.7bn in Personal Debt

30/11/2017

People’s Happiness Fund will purchase more than half the debt, remainder will be written off using private sector funds.

Emerging Prudential Risks

China Micro-lenders Ordered to Halt Business

27/11/2017

Murkiest of shadow banking sectors has extended short term credit of more than $150bn; extremely high rates, collection methods have led to ‘social problems’.

Conduct, Culture & Accountability

HK Regulators Warn on Conflicts of Interest in Product Sales

27/11/2017

HKMA, SFC say some intermediaries aren’t revealing related counterparties, not executing at best price, hide cheaper products.

Structural Regulation

Singapore, Abu Dhabi to Cooperate on Banking Supervision, Markets, Fintech

27/11/2017

Middle Eastern regulator has already approved one Singapore firm to provide credit services; Singapore firm won Fintech challenge.

Operational Risk

Indonesia Regulator to Set-up Regtech Surveillance System

27/11/2017

New technology to include integrated surveillance including early-warning system, data analysis and online regulatory reporting for financial institutions.

Resolution & Recovery

Vietnam to Allow Banks to Go Bankrupt

27/11/2017

Bankruptcy will be a last resort; Vietnamese banking sector has bad debts of 8.6% of total credit, 17.2% NPL ratio; Moody’s outlook ‘positive’