AML / KYC

AUSTRAC Launches New System for Enrolment, Registration and Reporting

12/11/2024

AUSTRAC says the new online portal makes it easier and faster to enrol or register a new business and to meet AML/CTF obligations.

Enforcement

BSP to Probe GCash Over Unauthorised Deductions

12/11/2024

The unauthorised deductions incident was attributed to a “system error”, but the BSP has vowed to investigate.

Securities / Derivatives

Hong Kong Introduces Bill to Boost REITs, Options Markets

12/11/2024

The bill will remove stamp duties payable on transfers of REITs shares or units and jobbing business of options market makers.

AML / KYC

HKMA Fines Fubon Bank for Transaction Monitoring Lapses

11/11/2024

HKMA said Fubon had deficiencies in the controls for transmission of transaction data from the core banking system to its transaction monitoring system.

BSP, Banque de France Sign MOU on Currency Operations

08/11/2024

The MOU enables BSP and BdF to share best practices and expertise on currency management and operations, and cooperate on digital payments.

Market Infrastructure

BSP Issues New Operational Resilience Requirements for FIs  

07/11/2024

Larger FIs have two years to develop and integrate operational resilience frameworks into their governance structures and risk management processes.

ESG / Sustainability

BSP Invites Indonesia, Malaysia to Explore Philippine Islamic Finance Sector

07/11/2024

The BSP has been engaging with FIs in Indonesia and Malaysia about exploring opportunities in the Philippines Islamic finance sector.

AML / KYC

Australia Introduces “Landmark” Anti-Scam Legislation to Parliament

07/11/2024

The bill will establish a ‘scams prevention framework’ and introduce certain mandatory obligations for banks, telcos and social media platforms.

ESG / Sustainability

ASIC Consults on Draft Sustainability Reporting Guidance

07/11/2024

ASIC drafted the guidance to help reporting entities in complying with the new sustainability reporting regime commencing in January.