AML / KYC

MAS Fines Vistra Trust for Failures in AML Controls

20/01/2022

Vistra failed to identify certain higher risk accounts and to subject these accounts to EDD measures, both during account acquisition as well as on an ongoing basis.

Market Infrastructure

FS-ISAC Initiative to Bolster Financial Sector Supply Chain Security

20/01/2022

The initiative fosters continuous collaboration and information sharing between financial institutions and critical network infrastructure and services providers.

RBNZ Proposes to Reduce ‘Burden’ of Preparing Assurance Reports

20/01/2022

The RBNZ proposes changes to make assurance reports on bank disclosure statements easier to navigate, more readable, and easier to prepare.

AML / KYC

MAS, ABS Announce Measures to Bolster Online Banking Security

20/01/2022

Singapore banks will put in place the more stringent measures within the next two weeks, and work on more permanent solutions in the coming months.

Securities / Derivatives

CMB Backed SPAC Applies for Hong Kong Listing

20/01/2022

The SPAC listing application was made by Aquila Acquisition Corporation, whose ultimate parent is China Merchant Bank.

Securities / Derivatives

Bursa Malaysia Enhances Rules on Board Independence, Diversity

19/01/2022

The rule amendments limit board tenure to 12 years, require the appointment of at least one woman director, and enhance transparency on board appointments.

ESG / Sustainability

Deutsche Börse, GFEX to Cooperate on Carbon Market Development

19/01/2022

Deutsche Börsem, including European Energy Exchange, will explore opportunities to cooperate with and Guangzhou Futures Exchange to develop green finance products and services.

Fintech / Regtech

BSP to Enhance Policy Formulation Through Big Data

19/01/2022

The BSP has partnered with the University of the Philippines to develop a News Sentiment Index, which will lead to more targeted policy formulation.

Crypto / Digital Assets

IOSCO Calls for Greater Use of Global Supervisory Colleges

19/01/2022

Global supervisory colleges can help strengthen cooperation between regulators, promote information sharing, and address market fragmentation.