Australian Life Insurers Launch Professional Standards Framework

24/04/2021

The framework was developed through collaboration between life insurers comprising 95 percent of the gross written premium in the retail life industry.

Fintech / Regtech

Regulatory Future Proofing with In-Memory Computing

24/04/2021

In-memory analytics tools allow even the most complex of regulatory calculations to be performed in minutes or seconds rather than hours.

Enforcement

SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe

23/04/2021

Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.

AML / KYC

BSP Renews Push for Changes to Bank Secrecy Law

23/04/2021

BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.

Philippines to Grant BSP Authority Over Insurance Commission

23/04/2021

Under a proposed bill, the supervision of the Insurance Commission will move from the Department of Finance to the BSP.

AML / KYC

SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd

23/04/2021

The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.

Market Infrastructure

DTCC Study Highlights Need to Enhance Post-trade Processes

22/04/2021

The sell-side is seeking enhancements to reconciliations and confirmations capabilities. The buy-side is focusing on fails and collateral management.

Enforcement

Australian Court Imposes 20-Year Ban on Mayfair 101 Director

22/04/2021

James Mawhinney is prohibited from promoting and raising funds from the public through financial products for 20 years.

AML / KYC

Philippines: PhilSys National ID System Draws 28m Registrations

22/04/2021

The issuance of PhilSys ID cards is expected to start within 2021, eventually replacing most other forms of government-issued ID.