Anti-Money Laundering

AUSTRAC Spotlights Risks Associated with Remittance Sector

27/09/2022

Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.

Cryptocurrency

Korea’s New Rules for Crypto Will Have to Wait

26/09/2022

An FSC official said new legislation for the crypto sector will only be effective if there is international consistency.

Structural Regulation

RBNZ, FMA Seeks Feedback on Draft FMI Standards

25/09/2022

The FMI Standards are likely to be issued in early 2023 and take effect around 1 August 2023 – once FMI designations are complete.

Cloud & Infrastructure

ADB Paper Offers Guidance on Building Regtech, Suptech Ecosystems

25/09/2022

Central to success is a high level of commitment to a “digital first” strategy, both from the regulatory community and the wider industry.

Conduct, Culture & Accountability

UBS Hiring Reviewers to Vet Chinese Research Content

21/09/2022

The content reviewers will ensure the language, tone and content of research published in Chinese is appropriate and free of any sensitivities.

Operational Risk

Citigroup Submits Plans to US Regulators to Address Deficiencies

21/09/2022

Citigroup has about 30,000 people working on improvements and is hiring rival bankers and former auditors to beef up its risk and compliance teams.

Market Abuse

Korea to Require Advance Disclosure of Insider Stock Trades

15/09/2022

Board members and principal shareholders will be required to disclose information about planned stock trades least 30 days before the expected trading date.

Capital Adequacy

Thailand Banks Request Lower FIDF Contribution Fees

14/09/2022

The TBA says lower FIDF contribution fees would enable banks to slow down interest rate increases for borrowers.

Credit Risk

Singapore BNPL Code On Track to Launch This Year

13/09/2022

BNPL providers are exploring a mechanism to share information with one another on customers’ outstanding amounts and their delinquency status.