AML / KYC

Singapore, UAE Conclude Digital Trade Financing Pilot

12/11/2021

The pilot enabled trading counterparties and transacting banks to digitally validate and exchange trade documents in real-time.

Enforcement

SFC Bans Two Ex-Licensees Over Use of Client Accounts

12/11/2021

One former representative effected discretionary trades in clients’ accounts without authorisation. The other traded his own stocks from a client’s accounts.

Fintech / Regtech

Malaysia Joins PoC Project to Test Cross-border Payment Links

11/11/2021

BNM and PayNet are joining Project Nexus, which was first announced in July by BIS Innovation Hub and MAS to explore new cross-border payment linkages.

AML / KYC

APG Re-rates Sri Lanka on One FATF Recommendation

11/11/2021

Sri Lanka extended its foreign exchange declaration requirements to include the full range of bearer negotiable instruments, in line with Recommendation 32.

Fintech / Regtech

Indonesia, UAE to Cooperate on Payments, Fintech, AML

11/11/2021

Central banks will cooperate on cross-border payments, fintech, and AML. Financial services regulators will cooperate on developing the Islamic finance industry.

Enforcement

FSS Faces Criticism Over Revamp of Supervisory Approach

11/11/2021

South Korea’s FSS will shift focus from disciplinary actions to risk prevention, according to FSS governor Jeong Eun-bo.

Securities / Derivatives

More than 400 VCCs Established in Singapore to Date: MAS

11/11/2021

As of mid-October, about 300 asset managers have incorporated or re-domiciled more than 400 VCCs in Singapore.

Securities / Derivatives

SEBI to Consider Opening Up Commodity Market to FPIs

10/11/2021

Currently FPIs can participate in the exchange-traded commodity derivatives only if they have actual exposure through exports and imports.

Big Picture

Fed Warns of Spillover Risk from China Property Markets

09/11/2021

Financial stresses in China could strain global financial markets and affect the US, the Federal Reserve says in its financial stability report.