Big Picture

US, EU Policy Normalisation Presents Risks for Asia: BIS

25/10/2021

While Asian emerging markets are better placed to withstand tightening global financial conditions, there are lingering causes for concern, says Agustín Carstens.

AML / KYC

HKMA, SFC Issue FAQ on ‘Offence Related Property’ Under NSL

25/10/2021

FIs “must” disclose to the JFIU property held by persons charged for offences under the National Security Law regardless of the portion of shareholdings.

Market Infrastructure

Global Fund Association Calls on SEBI to Delay T+1 Implementation

25/10/2021

To support T+1 settlement, FPIs and their service providers would need to completely re-engineer the settlement and funding process, ICI says in a letter to SEBI.

Enforcement

CFTC Pays Record-breaking $200m Whistleblower Award

24/10/2021

The award is the largest whistleblower payout on record, and for the first time includes an amount based on sanctions collected by a foreign regulator.

AML / KYC

Inconsistent AML Approaches Cause Cross-border Payment Frictions

23/10/2021

The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.

Securities / Derivatives

US Fed to Bar Officials from Buying Individual Stocks, Bonds

23/10/2021

Fed policymakers and senior staff will be limited to purchasing diversified investment vehicles, such as mutual funds.

AFCA to Provide Clarity on New Compensation Scheme

23/10/2021

AFCA says it will help to provide clarity on the treatment of complaints about losses arising from financial products and financial advice.

Capital / Liquidity

RBI Finalises New Regulatory Framework for NBFCs

22/10/2021

The RBI is adopting a four-layer approach to regulating NBFCs. The new framework will take effect from 1 October 2022.

Market Infrastructure

AFMA Calls for Removal of ‘LIBOR Cap’ Imposed on Foreign Banks

22/10/2021

AFMA is concerned that the LIBOR Cap will be replaced with a capping mechanism to be determined solely by the ATO.