Capital / Liquidity

MAS Proposes Amendments to RMO Capital Requirements

26/10/2020

MAS proposes to introduce a direct liquidity requirement for recognised market operators, and to revise downward the solvency requirement.

Market Infrastructure

GFXC to Complete FX Global Code Review by Mid-2021

23/10/2020

Among the key issues in the FX market has been settlement risk, given the increasing number of trades being settled without PvP protection, says RBA deputy governor Guy Debelle.

HKMA Issues Guidance on Bank Sales of Policy Replacement

22/10/2020

Banks engaged in insurance sales are expected to identify policy replacement at the point of sale and provide advice to customers on whether policy replacement is in their best interests.

Market Infrastructure

GBA Wealth Management Connect to Operate With Quota System

22/10/2020

The scheme will be capped at 150 bn yuan in each direction, and an individual quota of 1 mn yuan will be imposed on Greater Bay Area residents.

AML / KYC

Goldman Resolves Remaining 1MDB Charges for $2.9bn

22/10/2020

Under the coordinated resolution, Goldman will pay $606mn in disgorgement and more than $2.3bn in penalties to authorities in the US, UK, Hong Kong and Singapore.

Market Infrastructure

HKMA Asks FIs to Protect Customer Interests in LIBOR Switch

21/10/2020

Banks are expected to develop robust education and outreach programmes to help customers make informed decisions when assessing the options available in the transition.

AML / KYC

Hong Kong Banks Asked to File STRs for Suspected NSL Breaches

20/10/2020

According to updated HKMA guidance, suspected breaches of the national security law should be treated the same as AML/CFT violations and be reported to the JFIU as STRs.

Market Infrastructure

Tokyo Stock Exchange Faces FSA Probe Over System Outage

20/10/2020

Based on an on-site investigation and findings from JPX’s own investigative committee, the FSA will consider issuing a business improvement order.

AML / KYC

Global Tax Evasion Probe Targets Euro Capital Bank, Puerto Rico

18/10/2020

Euro Pacific Bank, founded in 2017 by Peter Schiff and Mark Anderson, is said to be used by up to 400 Australian nationals, about 100 of which are considered “high-risk”.