AML / KYC

Philippine NPO Sector Rated as Medium Risk for Terrorist Financing

12/04/2022

The SEC warns that suspected or actual misuse of the NPO sector for terrorism financing can present serious ramifications for an NPO’s intended beneficiaries.

Enforcement

ASIC Charges Firm for Offering Crypto Loans Without Credit Licence

09/04/2022

ASIC has charged Helio Lending for falsely representing that it had a credit licence that allowed it to offer cryptocurrency-backed loans.

Fintech / Regtech

JPX to Provide Free Market Data to Retail Investors

09/04/2022

JPX plans to launch a beta version of an API for retail investors under its ‘J-Quants’ project, and is inviting early adopters to apply for early access.

AML / KYC

India Introduces Bill to Outlaw Proliferation Financing

07/04/2022

The Bill will also give the government powers to freeze, seize or attach funds or other financial assets or economic resources to prevent WMD financing.

Fintech / Regtech

Korea FSS Commences Inspections of Internet-only Banks

06/04/2022

The FSS is set to conduct 779 regular or occasional inspections on financial firms throughout this year.

AML / KYC

Singapore Tightens Laws on Technology Risk, Crypto Assets

06/04/2022

FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.

ESG / Sustainability

RBI Identifies Faults in Risk, Compliance, Audit Functions

05/04/2022

The RBI has bolstered its supervisory focus at banks amid findings of compliance, risk management and internal audit weaknesses.

BSP Allows Trust Companies to Outsource Internal Audit Function

04/04/2022

The BSP says trust companies can use the internal audit function of a parent bank or NBFI, or outsource internal audit activities to an external firm.

Capital / Liquidity

Korea to Allow Some Regulatory Relaxations to Expire in Three Months

03/04/2022

Banks can continue to total hold LCR at 85% for three more months, following which the FSC will raise the total LCR requirement back to 100% in steps.