BNM Issues New Rules for Hiring Insurance, Takaful Agents

18/04/2023

BNM is working with industry associations to develop a centralised database of agents to ease the due diligence and reference-checking requirements.

India, Russia in Advanced Talks on Trade Treaty

18/04/2023

The RBI is also engaged in discussions with several other countries on the possibility of conducting trade in the rupee.

Australia Consults on Super Fund Financial Reporting Requirements

13/04/2023

New financial reporting and auditing requirements for super funds will be consistent with those that apply to public companies and registered schemes.

BSP Issues New Rules on Handling Financial Complaints

13/04/2023

The new rules take effect on 1 May, requiring all regulated FIs to have a complaint handling mechanism and effectively handle consumer disputes.

AML / KYC

BSP Issues New CDD Rules to Support PhilSys Enabled e-KYC

07/04/2023

The PhilSys national digital ID system is acceptable for e-KYC, provided it is supported by “robust technology, adequate governance, processes, and procedures”.

AML / KYC

AUSTRAC Provides AML/CTF Exemption for CBDC Pilot

07/04/2023

The exemption applies to CBDC issuance, redemption, exchange, custody, storage, transfer, account opening and other areas for the RBA, pilot participants and customers.

Fintech / Regtech

APAC Regulators Form New Forum to Address Cloud Risk

06/04/2023

MAS assistant managing director Vincent Loy said the twice-a-year forum will help APAC regulators and CSPs ensure greater resilience of cloud adoption in the financial sector.

AML / KYC

ICAC Concludes First Training Day for Banks on Corruption Risk

05/04/2023

Acting ICAC Commissioner Ricky Yau said the training programme is aimed at enhancing banking sector standards on preventing corruption risk.

Market Infrastructure

Industry Asks ASIC to Lengthen SOFR OIS Implementation Period

04/04/2023

ISDA and AFMA responded to an ASIC proposal to remove OIS contracts referencing USD LIBOR from derivatives clearing requirements and replace them with those referencing SOFR.