AML / KYC

BNM Issues Guidance Documents on AML/CFT Obligations

02/09/2020

Guidance is provided for financial institutions, DNFBPs and NBFIs on AML/CFT and targeted financial sanctions, customer due diligence and beneficial ownership.

Fintech / Regtech

China: Two More State-Banks Join Digital Yuan Testing

02/09/2020

Postal Savings Bank of China and China Citic Bank will join four other state banks in conducting initial tests and creating services for the digital currency.

Market Infrastructure

APRA Updates Four-Year Corporate Plan to Prioritise Covid Risks

02/09/2020

APRA will prioritise the safety and soundness of regulated institutions, operational resilience and contingency planning for adverse events.

Enforcement

CBIRC Penalises Two State-Owned Banks for Violations

02/09/2020

Agricultural Bank of China and China Construction Bank were fined more than a combined 90mn yuan and one individual was banned for life.

Securities / Derivatives

India: New Cash Segment Margin Rules Take Effect

01/09/2020

India’s brokers association had asked for additional time for firms to implement system changes and address operational challenges. SEBI refused the request.

Enforcement

ASIC Four-year Plan Targets Misconduct, Innovation

01/09/2020

In its four year corporate plan, ASIC says it will target misconduct and consumer harm, while also promoting fintech, regtech and suptech innovation.

Securities / Derivatives

Tokyo Stock Exchange to Pilot Test RFQ Functionality

01/09/2020

The initiative is aimed at making ETF trading more efficient by connecting institutional investors, securities companies, and market makers more closely.

Market Infrastructure

KBank, CIMB Thai Complete First OIS Trade Referencing THOR

01/09/2020

KBank and CIMB Thai Bank completed the first overnight indexed swap derivatives transaction referencing Thailand’s new reference rate on Monday.

Big Picture

China Securities Firms to Differentiate with Fintech: KPMG

01/09/2020

Model differentiation and consolidation are expected to be key trends for China’s securities industry going forward, according to a new report from KPMG.