AML / KYC

FSB Asia Members Consider Financial System Vulnerabilities

13/05/2018

Members discussed bank resolution regimes, the use of tech to mitigate AML/CTF risk, governance frameworks to reduce misconduct.

Enforcement

SFC Signs Enhanced MoU on Cross Border Enforcement Cooperation

13/05/2018

Enhanced IOSCO framework enables securities regulators to obtain and share audit working papers, telephone, internet records; compel attendance at interviews; provide guidance on freezing of assets.

AML / KYC

Japan FSA Toughens Rules on Crypto Exchanges

09/05/2018

New requirements include standards on system management, customer vetting, segregation of assets, removal of privacy coins, separation of duties.

AML / KYC

CPMI Releases Strategy for Reducing Wholesale Payments Fraud

09/05/2018

Central banks urge stakeholders to pursue adoption of common strategy to improve security of wholesale payments; will monitor progress to determine the need for further action.

Fintech / Regtech

Singapore Fast Tracks AI Adoption in Financial Sector

08/05/2018

MAS partners with government agency, media regulator and professional body to promote adoption of AI products and services in financial sector.

Fintech / Regtech

Korea Joins Regional Peers in Adopting AI-based Market Surveillance

08/05/2018

KRX launches new market surveillance system based on artificial intelligence; reduces time to secure data on suspicious transactions from 5 days to 1 hour.

Fintech / Regtech

UPDATED – APRA Grants First ‘Restricted ADI’ License Under New Framework

07/05/2018

Newly released restricted ADI licencing framework allows entities to conduct a limited range of activities for two years before fully meeting regulatory requirements.

Fintech / Regtech

ASIC Continues Regtech Support with NLP Trials

07/05/2018

ASIC deepened its support of regtech with natural language processing trials; signifies regulator’s starting point in its evolving approach to new technologies.

Securities / Derivatives

SFC Issues New Rules on Instant Message Trade Orders

07/05/2018

Regulator requires two years of full records, client authentication and validation, a written contingency plan and compliance reviews for instant messaging use.