AI Risk & Governance

Hong Kong SFC Cites Algo Trading Risk Mitigation Weaknesses

13/12/2016

Findings include insufficient management and control personnel involvement in governance.

Fraud, Scams & Cybercrime

Bangladesh Bank Officials Said Involved in $81mn Heist

13/12/2016

Investigation finds central banks own officials connived to steal money.

Resolution & Recovery

S.Korea to Hasten Market Stabilisation Efforts

13/12/2016

Financial regulator to implement ‘prepackaged bankruptcy’ next year.

Conduct, Culture & Accountability

Australia Ups Accountability of Product Issuers, Distributors

13/12/2016

New rules state products must only be offered to customers who need them.

Anti-Money Laundering

NZ Central Bank Warns Credit Union on AML/ CTF

13/12/2016

RBNZ says Aotearoa union failed to conduct due diligence, monitor accounts.

Structural Regulation

Indonesia Limits Foreign Ownership of Fintech Firms

12/12/2016

Draft rules also mandate minimum capital and financial reporting standards.

Structural Regulation

Philippines Eases Bank Branch Opening Rules

12/12/2016

Lenders will now be able to set up branches in previously restricted areas.

Market Abuse

Indian Gov’t Says NSE Gave Preferential Access

12/12/2016

Finance minister Arjun Meghwal says loophole making system prone to manipulation closed on 3 December.

Anti-Bribery & Corruption

20 ‘HK DBS Staff’ Arrested in Data Leak Investigation

12/12/2016

Staff alleged to have bribed managers to obtain customer data and sell high-interest loans.