Anti-Money Laundering

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.

Structural Regulation

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.

Market Abuse

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.

Anti-Money Laundering

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 Adequacy

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.

Conduct, Culture & Accountability

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.

Structural Regulation

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.

Tokenisation

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.

Emerging Prudential Risks

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.