AML / KYC

AUSTRAC Publishes AML/CTF Guidance for Remittance Providers

09/12/2020

AUSTRAC provides guidance on conducting an ML/TF risk assessment, providing risk awareness training to staff, and fulfilling reporting obligations, among others.

APRA Proposes Potential Changes to Credit Risk Management Standard

09/12/2020

Amendments, including an earlier implementation date, will be necessary if the government’s proposed consumer credit reforms are passed as legislation.

Capital / Liquidity

BOT Eases Rules on Bank Capital to Promote Lending

09/12/2020

The move will increase the levels of capital and liquidity at commercial banks and facilitate lending to businesses and households.

AML / KYC

ANZ, Deutsche, Citigroup Face Trial Over Criminal Cartel Case

09/12/2020

The banks are alleged to have colluded on how to offload ANZ shares in 2015 by restricting supply to maintain market prices.

Capital / Liquidity

APRA Revises Bank Capital Framework to Add Flexibility

09/12/2020

The reforms will deliver a “robust, competitive banking system” that can continue to fulfil its critical role when the community faces challenges, APRA’s Wayne Byres said.

Capital / Liquidity

RBNZ Consults on Reinstatement of LVR Restrictions on Risky Lending

09/12/2020

The RBNZ is concerned that increases in highly-leveraged borrowing, if continued, could lead to emerging risks to financial stability.

Market Infrastructure

PBOC Launches Cyber Info Sharing Platform for Financial Sector

09/12/2020

The platform was built by ICBC, China Construction Bank and other FIs, to improve industry cyber defences and prevention capabilities.

AML / KYC

Philippine SEC Proposes Stronger Rules on Beneficial Ownership

08/12/2020

The SEC is seeking to require the disclosure of beneficial owners, nominators, principals, and nominee arrangements within 10 days from a company’s registration.

MAS Outlines Initiatives to Expand Financial Cooperation with China

08/12/2020

MAS and Chinese regulators are collaborating on RMB internationalisation, exchange-traded funds, digital finance and green finance.