KYC & CDD

FIs No Longer Have to Verify Client Addresses for AML/CTF – HKMA

12/10/2017

AML/CTF regulations to be changed; banking regulator says any current absence of address verification will be seen as justified.

Conduct, Culture & Accountability

SGX to Revamp Securities Trading, Market Practice Rules

11/10/2017

Proposed market practice rules would end requirement that senior managers pre-approve staff to trade so long as customer information is protected.

Market Abuse

Hong Kong-China to Share Stock Connect Broker, Trader Names

11/10/2017

SFC chief says move will enhance market transparency and surveillance, and improve efficiency in cracking down on malpractice.

Emerging Prudential Risks

China Banking Regulator Doubles Down, Again, on Systemic Risk

11/10/2017

CBRC says failure of regulators to identify risks amounts to ‘dereliction of duty’; urges lenders to sort out non-performing loans.

Cryptocurrency

Official Media Confirms China Bitcoin Ban Only Temporary

09/10/2017

Xinhua says authorities will introduce a licensing programme and stricter AML rules for cryptocurrency exchanges; ICOs also to become regulated.

Payments & Settlements

Singapore Enters 2nd Phase of Blockchain-based Payments Trial

09/10/2017

Trial has already been completed on interbank transfers; blockchain programme will be extended to include securities sector as well as payments.

Cybersecurity

Thai Banks Join up to Improve Cybersecurity

09/10/2017

Fifteen banks in Thailand have set up a group to tackle information technology stability and security and prepare for cyber-attacks.

Supervision & Enforcement

Malaysian Central Bank to ‘Name and Shame’ Rulebreakers

09/10/2017

Bank Negara Malaysia governor says it has shared the names of more than 400 individuals with banks in the country over the past three months.

KYC & CDD

Standard Chartered Guernsey-Singapore Transfers Under Investigation

09/10/2017

Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.