Shanghai Directs Exchanges, FIs to Resume On-site Operations

20/05/2022

864 financial institutions are on a list of white-listed entities that are allowed to start sending employees back to the office. The list will be updated weekly.

Enforcement

RBNZ Finalises Guidelines on Enforcement Principles and Criteria

19/05/2022

The enforcement principles guide RBNZ’s investigation and enforcement strategy. The enforcement criteria help determine the appropriate enforcement response to non-compliance.

AML / KYC

US Warns Against Inadvertent Hiring of DPRK IT Workers

19/05/2022

North Korean IT workers may try to obtain employment building crypto exchange platforms and then use the infrastructure to launder money and evade sanctions.

Fintech / Regtech

SEBI Seeks to Ban Celebs from Promoting, Endorsing Crypto

19/05/2022

SEBI suggested to a parliamentary committee that prominent public figures be barred from promoting or endorsing crypto products.

Market Infrastructure

HK PCPD Issues Guidance on Cross-border Data Transfers

19/05/2022

Recommended model contractual clauses are provided for scenarios where personal data is transferred across borders to another data user or to a data processor.

MAS Revises Notice on Unsecured Credit Facilities for Retail

19/05/2022

Banks should not increase credit limits if the total outstanding unsecured credit would exceed 6 times the borrower’s monthly income.

Enforcement

HK ICAC Charges Ex-Sunway Employee for Money Laundering

19/05/2022

A former personal assistant helped his boss to launder HKD 125 million borrowed from listed company Sunway International Holdings.

RBI Says Banks Can Continue to Label NBFC Loans as PSL

19/05/2022

Banks were allowed to classify lending to NBFCs as priority sector lending in September 2020, provided the funds were on-lent to priority sectors.

ESG / Sustainability

ASEAN+3 Ministers Pledge to Maintain Regional Stability

19/05/2022

The CMIM is being enhanced to allow ASEAN+3 members to use their own and each other’s local currencies for CMIM liquidity support.