Chinese Regulators Announce Coronavirus Support Measures

30/01/2020

PBOC has extended the Lunar New Year closure of financial markets until 3 February and vowed to inject liquidity into the markets when they reopen.

AML / KYC

Sanctions Screening Short Cuts Not Worth the Risk: Refinitiv

29/01/2020

Increasingly aggressive US sanctions policies highlight the need for financial institutions to adopt and implement a sophisticated risk-based approach to compliance.

AML / KYC

Singapore’s Payment Services Act Comes Into Force

28/01/2020

The PS Act gives MAS formal supervisory powers over technology, cybersecurity and AML/CFT controls at payment services firms, including cryptocurrency and e-wallet companies.

Market Infrastructure

Australia Proposes Broad Extension of Financial Accountability Regime

24/01/2020

FAR will replace BEAR and apply to insurers, superannuation entities, financial holding companies and eventually ASIC licensees, with higher penalties for breaches.

ESG / Sustainability

BIS Calls on Central Banks to Coordinate Action on Climate Change

21/01/2020

Without coordinated action, a new global financial crisis triggered by climate change would render central banks and financial supervisors powerless.

Market Infrastructure

Trade Deal to Enable Early Entry of US Firms to China

16/01/2020

Under the agreement, the December timeline for China’s removal of foreign ownership limits in the securities sector is brought forward to April.

Market Infrastructure

HKMA Reveals Preliminary Findings from Bank Culture Assessments

16/01/2020

HKMA executive director Alan Au says banks generally agree with the need to foster sound bank culture and have been implementing a range of culture enhancement initiatives.

Market Infrastructure

ISDA Chief Calls for Certainty on China Close-out Netting

16/01/2020

The lack of legal certainty and judicial recognition on close-out netting can impede capital market development in China, impacting domestic FIs the most, ISDA’s Scott O’Malia said.

ESG / Sustainability

Singapore Launches New VCC Framework for Funds

15/01/2020

To mark the launch, 20 investment funds have established or re-redomiciled in Singapore as VCCs. To encourage adoption, MAS will fund up to 70% of eligible expenses to set up a VCC.