AML / KYC

Compliance Costs Impacted by Technology, Covid: Report

25/03/2021

Firms across APAC that allocate a higher percentage of compliance spend to technology have comparatively lower overall compliance cost.

Fintech / Regtech

Line Pay to Bring Data Stored Overseas Back to Japan

25/03/2021

Line must submit detailed reports to Japanese authorities explaining how it protects personal data, after employees at a China affiliate were found to have access to user information.

ESG / Sustainability

ISLA Pledges to Support ESG Objectives in Securities Lending

24/03/2021

ISLA says it will lead workstreams on five key action points to help share the securities lending market’s response to ESG challenges.

Fintech / Regtech

BOT Outlines Plans to Develop Policy on Stablecoins

24/03/2021

Parties seeking to issue a THB-backed stablecoin are required to consult with the BOT before beginning any operations. A consultation will be issued by mid-year.

Market Infrastructure

SEBI Issues Guidelines for MIIs on Handling Disruptions

24/03/2021

The new guidelines follow last month’s trading halt at the NSE. The exchange has submitted a root cause analysis to SEBI.

Enforcement

Former Fed Employee Pleads Guilty to Stealing Bank Stress Test Data

23/03/2021

The former employee faces jail time for removing restricted documents from his workstation, including proprietary information used by the Fed to conduct bank stress tests.

AML / KYC

Beijing Financial Court Created to Counter US Long Arm Jurisdiction

23/03/2021

The extraterritorial application of China’s financial laws will play a bigger role in opening up the domestic market, the Supreme People’s Court said.

Enforcement

Malaysia SC Probes Share Disposals by AmBank Execs

23/03/2021

Seven executives sold a combined MYR 1.63 million in shares on the same two days in December, just two months ahead of AmBank’s 1MDB settlement.

AML / KYC

Bangladesh TBML Rule Makes Mis-invoicing a Jailable Offence

22/03/2021

A new Finance Ministry order makes incorrect declaration on exports, imports and investment abroad a jailable offence.