AML / KYC

APG Publishes 2nd Follow-up Report on Pakistan

04/06/2021

Pakistan had requested a re-rating on 23 FATF Recommendations: 21 were upgraded, one was not re-rated, and one was downgraded.

AML / KYC

Philippine Financing, Lending Firms Must Register with AMLC by 21 June

04/06/2021

Newly covered financing and lending companies that fail to register with the AMLC by 21 June will incur penalties.

Market Infrastructure

Japan to Remove Firewall Between Banking, Securities Operations

04/06/2021

The FSA is reportedly working on rule changes that would allow banks and securities firms within the same group to share customer data.

Enforcement

MAS Bans Former Representative Over Forgery Conviction

04/06/2021

The former representative deceived online platform OANDA into crediting money into his personal trading account through forged screenshots of a bank transfer.

AML / KYC

HKIFA Warns Against Concealing Company Director Information

04/06/2021

The government proposal to stop requiring companies to reveal certain information about directors will hinder fund managers’ ability to conduct due diligence.

Securities / Derivatives

SEBI Defers Fund Disclosure Rule by Three Months

04/06/2021

New rules for the disclosure of scheme risk-o-meters, performance and portfolio details will be implemented on 1 September instead of 1 June.

Crypto / Digital Assets

MAS Issues Guidance on Managing Risks of Cloud Services

04/06/2021

In a new advisory, MAS highlights the key risks and control measures FIs should consider before adopting public cloud services.

Securities / Derivatives

China’s SAFE Awards $10.3bn Worth of New QDII Quotas

04/06/2021

The new quotas, awarded to 17 institutions, represent the largest approval by SAFE in the history of the QDII scheme.

Securities / Derivatives

SEBI Raises Overseas Investment Limits for Mutual Funds

03/06/2021

The overseas investment limit was raised from $600mn to $1bn. For investments in overseas ETFs, the limit was raised from $200mn to $300mn.