ESG / Sustainability

Philippine SEC Adopts ASEAN SRF Standards

14/05/2023

Rules are established to enable local and ASEAN-member investment companies and CIS operators to offer sustainable and responsible funds locally and across the region.

FSB Assessing Role of Social Media in Bank Failures

11/05/2023

Head of financial stability analysis Costas Stephanou said the FSB plans to issue a detailed report on its findings later in 2023 or next year.

AML / KYC

India Brings Company Formation Agents into Scope of AML Law

11/05/2023

Persons who act as formation agents, directors, trustees and nominee shareholders for companies and LLPs are brought into scope.

Capital / Liquidity

MAS Considers Possible Changes to Deposit Insurance Scheme

10/05/2023

MAS will issue a consultation by the end of June on proposals to ensure Singapore’s deposit insurance scheme remains fit for purpose.

FSC Korea to Lower Regulatory Burden for Firms Seeking M&A

09/05/2023

The FSC will ease requirements on potential buyers to prove their financial capacity and set up facilities to help finance M&A activity.

ASIC Revises Implementation Approach for IDR Data Reporting

08/05/2023

97 large financial firms started reporting IDR data early this year. 260 firms will have to start reporting by August 2023. The remaining firms will have until 29 February 2024.

Enforcement

UK FCA Fines Banque Havilland for Alleged Manipulative Trading

06/05/2023

Banque Havilland employees including the CEO created and distributed a document containing “manipulative trading strategies” aimed at harming Qatar’s economy.

Fintech / Regtech

UK CMA Commences Review of AI Models

05/05/2023

The CMA’s initial review will explore the opportunities and risks AI models could bring for competition and consumer protection.

AML / KYC

RBI Updates Master Direction on KYC for Wire Transfers

05/05/2023

The revised master directions highlight the need for all wire transfers to be accompanied by accurate and complete originator and beneficiary information.