AML / KYC

FATF Issues Guidance on Mitigating Proliferation Financing Risk

29/06/2021

The guidance highlights the need for effective onboarding processes, ongoing monitoring, staff training, risk management, sanctions screening, and a strong compliance culture.

AML / KYC

Digital Identity: A Sound Model for Risk Mitigation

29/06/2021

Lax attitudes towards security by consumers have made it increasingly important for banks to take advantage of digital identity systems and put in place robust security measures.

AML / KYC

New FATF Report Sounds Alarm Over Environmental Crime

29/06/2021

The report highlights the use of trade-based fraud and shell companies by criminals to launder proceeds from environmental crime.

Big Picture

New Report Explores Impact of AT/HFT on Hong Kong Equities

28/06/2021

Algorithmic trading and high-frequency trading were generally not found to have a deteriorating impact on market liquidity or increase market volatility.

Capital / Liquidity

FSC Korea to End Bank Dividend Cap on 30 June

28/06/2021

The FSC arrived at the decision based on economic projections, bank stress tests, higher capital adequacy ratios, and higher loan loss provisions.

Capital / Liquidity

Hong Kong: ‘Stay Rules’ to Come into Operation on 27 August

27/06/2021

Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.

Crypto / Digital Assets

ASIFMA Spotlights Tokenised Securities in New Paper

27/06/2021

The paper calls on regulators to issue more guidance on the classification of tokens and modernise paper-based requirements in securities markets.

AML / KYC

FATF Plenary Packs Powerful Punch

25/06/2021

The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.

Enforcement

SGX RegCo Set to Expand Enforcement Powers

25/06/2021

From 1 August, SGX RegCo will be able to issue public reprimands, require issuers to comply with specified conditions, and demand director resignations.