AML / KYC

UPDATED: Philippine Senate Approves Amendments to AML Law

19/01/2021

The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.

Fintech / Regtech

UPDATED – PBOC Says Ant Group Working to Overhaul Business Structure

19/01/2021

Ant Group is drawing up a timetable to fold its financial operations into a holding company, under the guidance of regulators.

Market Infrastructure

MAS Raises Expectations on Technology Risk Management

19/01/2021

The revised guidelines set out higher expectations for FIs in technology risk management, including for assessments of third-party suppliers.

CBIRC To Supervise Insurance AMCs Based On Regulatory Ratings

18/01/2021

The proposed regulatory rating system will be tested from 13 January until end-2021, following which full implementation will occur starting 1 January 2022.

Securities / Derivatives

China Approves Peanut Futures Trading Starting 1 February

18/01/2021

China is also planning to launch new commodity derivatives in natural gas and refined oil, among a host of other futures products in the pipeline.

AML / KYC

US Sanctions Six More Chinese, Hong Kong Officials

17/01/2021

The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.

Securities / Derivatives

Dutch Brokerage IMC Granted Preliminary Licence in Korea

17/01/2021

The approval of the preliminary financial investment business licence marks the FSC’s first approval of a foreign-based trading firm in three and a half years.

Market Infrastructure

ISDA Urges Adherence to IBOR Fallbacks Protocol

17/01/2021

Over 5,900 entities in 70 jurisdictions have adhered to the protocol, which is intended as a safety net to mitigate the systemic impact of an IBOR cessation.

Securities / Derivatives

New Zealand FMA Consults on Wholesale Investors Exclusion

17/01/2021

The notice under review exempted offerors of certain financial products from having to provide normal disclosures to investors whose minimum investment is NZ$750,000 or more.