Anti-Money Laundering

Vietnam: SBV Directs Banks to Strengthen AML Controls

08/01/2024

The directions come after Vietnam implemented a new AML law in 2022 and “Decree 19” in April 2023 to support implementation.

Payments & Settlements

Korea FSC to Launch New Microfinance Assistance Platform

08/01/2024

The new online platform will help users find suitable microfinance products based on their financial needs and situation.

Conduct, Culture & Accountability

ASIC Extends Product Intervention Orders on Short Term Credit

06/01/2024

The product intervention orders issued in July 2022 were to remain in force for 18 months. They will now remain in force until 1 October 2032.

Payments & Settlements

BSP Amends Cheque Clearing Policy, Reintroduces Funding Facility

06/01/2024

The reforms are aimed at enhancing the efficiency and safety of the Philippine payments system.

Trading & Investment

Philippine Bourse Outlines Plans to Boost Market Liquidity

05/01/2024

The PSE plans to lower the minimum board lot size, allow algorithmic trading, and introduce depositary receipts.

Credit Risk

Chinese Banks Act Against Credit Risk Exposure – Report

04/01/2024

Some large Chinese banks are critically assessing small banks to identify those with poor asset quality and high risk of default.

Anti-Money Laundering

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.

Fraud, Scams & Cybercrime

FSS Korea Fines BNK Kyongnam Bank for Employee Misconduct

02/01/2024

Former branch manager opened a securities account using his mother-in-law’s name and forged signature, and used it to place 193 stock trades.

Climate Risk

HKMA Study Assesses Climate Risks of HK-domiciled Funds

29/12/2023

The study found that the climate risk of HK-domiciled funds is “in line with funds domiciled in other Asia-Pacific economies.”