AML / KYC

Australia: FSC Calls for Measures to Stop Online Scam Ads

22/05/2022

The Financial Services Council is calling for the introduction of a mandatory code of conduct for digital platforms like Facebook and Google to prevent financial scams.

Enforcement

Korea: Shinhan Bank Discovers Embezzlement by Employee

22/05/2022

Days earlier a Woori Bank employee was arrested for embezzling KRW 61.4 billion between 2012 and 2018.

China to Centralise Efforts to Resolve Overdue Payments to SMEs

22/05/2022

The campaign aims to resolve arrear payments due to SMEs for projects, goods and services purchased by government agencies, state-owned institutions and large enterprises.

RBI Assesses Six Applicants Unsuitable for Banks Licensing

22/05/2022

RBI had received 11 applications to set up universal banks and small finance banks. The RBI (Reserve Bank of India) […]

Taiwan Mulls Additional Measures to Curb Property Lending

22/05/2022

The measures include shortening mortgage loan tenors from 30 to 20 years for corporate buyers and owners of multiple homes.

Market Infrastructure

New Visa Rules Will Not Hinder Access to Foreign Talent: Menon

21/05/2022

MAS managing director Ravi Menon addressed concerns that a revised scoring system for employment pass applicants could impede hiring by Singapore FIs.

AML / KYC

ASIC Cautions Against Purchasing ‘Fake Green Bonds’

21/05/2022

ASIC says retail investors who are approached to invest in green bonds should ask their banks for help to check the legitimacy of the offer.

Market Infrastructure

LME Proposes to Enhance Reporting of OTC Metals Trades

21/05/2022

Banks would be required to report all off-exchange trades in aluminium, copper, nickel, tin and zinc on a weekly basis.

Securities / Derivatives

New Zealand Fund Manager Fees Overshadow Performance: FMA

20/05/2022

Fund managers are showing repeatable performance but the “benefits of their skill” are being overshadowed by fees and commissions paid to third parties.