AML / KYC

MAS Sheds Light on Use of AI in Supervisory Activities

04/10/2023

MAS is using AI tools to identify market collusion, manipulation, mis-selling by financial advisers, and networks of suspicious activity in Singapore’s financial system.

Capital / Liquidity

FDIC Proposes Enhanced Corporate Governance Guidelines for Banks

04/10/2023

The guidelines will be applicable to insured depository institutions with consolidated assets of USD 10 billion or more.

Enforcement

ASIC Sues Cigno, BSF Solutions Over Unlicensed Credit Offerings

04/10/2023

Cigno Australia and BSF Solutions used a credit model that subjected some consumers to fees of more than 600% of their total loan amount.

Securities / Derivatives

Philippine Stock Exchange Issues Final Short Selling Guidelines

04/10/2023

The PSE said the SEC and BIR approved critical components of SBL transactions. A separate announcement will be made about the official launch date.

ESG / Sustainability

NZ FMA Issues Record Keeping Guidance for Climate Disclosures Regime

04/10/2023

The guidance sets out principles for firms to ensure their records evidence that climate statements comply with the CRD requirements.

Capital / Liquidity

RBNZ Finalises Decision to Implement Dual Reporting for IRB Banks

04/10/2023

Dual reporting is intended to show how the use of internal models affects a bank’s RWA outcomes compared to using the standardised approach.

Market Infrastructure

APRA, ASIC Publish New Guidance for Financial Accountability Regime

03/10/2023

The new information package includes guidance for banks on transitioning to the FAR, including a template for producing accountability statements.

Capital / Liquidity

US, Korea to Cooperate on Risk Monitoring, Resolution Planning

02/10/2023

The FDIC and KDIC will cooperate on risk monitoring, crisis management and resolution planning for FIs with operations in both countries.

UK, NZ Sign Pact to Mutually Recognise Auditor Qualifications

29/09/2023

The New Zealand FMA and UK’s FRC have agreed on mutual recognition of the professional qualifications of auditors.