AML / KYC

CBA Responds to AUSTRAC Civil Proceedings

07/08/2017

Bank claims that the missing TTRs were due to a coding error following a software update in the IDMs since November 2012 until September 2015.

Securities / Derivatives

Japan Halves Setup Time for Foreign Fund Entry

07/08/2017

UK asset management firm Legal & General Group became the first foreign firm to make use of Japan’s financial market entry consultation desk.

Securities / Derivatives

China Cracks Down on Investment Funds for IPO Rules Violation

07/08/2017

China has blacklisted nine funds connected to HSBC for alleged “misbehaviour” in the financial markets, specifically pertaining to IPO’s.

AML / KYC

CBA in Alleged ‘Serious’ Breach of AML/CTF Rules

03/08/2017

AUSTRAC began civil proceedings against the CBA for “serious and systemic” failure to comply with the AML and counter-terrorism financing laws.

Capital / Liquidity

BIS Releases Policy Papers on Regulatory Proportionality and Cyber-risk

03/08/2017

Papers analyses regional divergence in frameworks across Singapore, Hong Kong and Japan.

Securities / Derivatives

SFC Flags Irregularities in Private Funds and Discretionary Accounts

03/08/2017

Hong Kong securities regulator expresses concerns on the management of private funds and discretionary accounts.

Market Infrastructure

Australian Superannuation Body Against Co-regulation

03/08/2017

ASFA has come out strongly against the Treasury consultation proposing greater involvement of the ASIC in monitoring and enforcing financial industry codes.

Securities / Derivatives

Singapore Brings ICO’s Within Regulatory Ambit

02/08/2017

Singapore regulator announces intention to regulate ICO’s that share characteristics of debt or equity securities.

Capital / Liquidity

Systemic Risk Key Focus for China’s Regulators

01/08/2017

The Chinese government made systemic risk in the country’s financial sector its main priority during its mid-year work conference.