AML / KYC

AUSTRAC Warns on Fraud, Money Laundering via Stock, Derivatives Markets

13/07/2017

Fraud, money laundering more prevalent than even insider trading or market manipulation, Centre suggests; only 40% of market participants filed suspicious matter reports over 2-year period.

AML / KYC

Singapore Banker Gets 2nd Conviction for 1MDB-related Offences

13/07/2017

Former wealth manager at shuttered Singapore office of Swiss bank BSI to serve further two years for money laundering after witness tampering sentence ends.

Capital / Liquidity

Bank Risks Under Control, Market Supervision to Intensify – China Regulators

13/07/2017

Senior banking regulator suggests number of illegal fundraisings has declined sharply; counterpart at CSRC says to continue crackdown on market malfeasance.

Market Infrastructure

Korean Banks Under Fire for ‘Excessive’ Fees

12/07/2017

FSS figures show banks have made $57.6bn from fees since 2013; President Moon pledged to tackle issue of excessive fees but no action has been taken yet.

AML / KYC

Japan FSA Probing AML Compliance at Regional Banks

12/07/2017

Regulator concerned rules introduced last October are not being executed consistently as regional and other smaller banks deal with increasing number of international transactions.

Fintech / Regtech

Slim Chance of China Making Bitcoin a Currency, PBOC Adviser Says

11/07/2017

Sheng Songcheng says bitcoin lacks ‘fundamental attributes’, but advocates government-derived virtual currency as Beijing-based institute researches blockchain and related financial technologies.

Market Infrastructure

Malaysia Introduces Capital Market Competency Guidelines

10/07/2017

Malaysian regulators aim to improve the competitiveness of the domestic capital markets by enhancing the soft and hard skills and professional ability of local banking executives.

Capital / Liquidity

HK Beats Singapore to Resolution Regime

10/07/2017

HKMA narrowly outpaces Singapore rival to enacting regime; becomes lead resolution body with responsibility for securities and insurance as well as banking.

Enforcement

China Regulators Target ‘Rat’ Traders

10/07/2017

Ministry of Public Security says it has uncovered 80 cases of the form of insider trading since 2014. CSRC to use big data as it continues crackdown.