KYC & CDD

Bangladesh Bank to Introduce e-KYC for Account Opening

02/03/2018

Electronic KYC will include digital forms and thumbprint verification; bank can access national identity card database for further verification.

Trading & Investment

India Eases Foreign Investor Limits on Interest Rate Futures

02/03/2018

Aggregate long positions for all FPIs will be up to INR50 billion across any interest rate futures instrument.

Structural Regulation

Australia to Develop Fintech Code of Conduct

02/03/2018

The code of conduct will cover transparency and disclosure for fintech balance sheet lenders offering unsecured business loans.

Structural Regulation

China Levels Playing Field for Foreign Banks

01/03/2018

Pre-approvals no longer required for wealth management, custody services; procedures simplified for branch opening, executive appointments, bond issuance.

Fraud, Scams & Cybercrime

Hong Kong SFC to Focus on Corporate Fraud in 2018

27/02/2018

SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.

Structural Regulation

China Stalls Launch of Registration Based IPO System

26/02/2018

Initially set for implementation this week, the market-oriented approach to listings will be pushed forward two years.

Clearing & Post-Trade

CFTC Extends Shanghai Clearing House No-Action Relief

26/02/2018

Shanghai Clearing House is permitted to clear certain swaps subject to mandatory clearing in China for the proprietary trades of its clearing members that are US persons.

Supervision & Enforcement

Indian Court Urges End to Auditor ‘Self Regulation’

26/02/2018

Supreme Court says auditors lack adequate oversight, have breached central bank and foreign direct investment rules and Chartered Accountants Act.

Credit Risk

China Launches Online Credit Scoring Service

25/02/2018

Baihang Credit Scoring granted three-year licence to provide personal credit information services online.