Payments & Settlements

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.

Capital Adequacy

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.

PEPs & Sanctions

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.

Market Abuse

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.

Trade Based Money Laundering

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.

Anti-Money Laundering

Korea’s New AML Law for VASPs Set to Take Effect

22/03/2021

From 25 March, VASPs will have six months to register with KoFIU, and must start report suspicious transactions. The travel rule will apply one year later.

Credit Risk

RBA Makes Plea for Banks to Ease Approach to SME Lending

21/03/2021

The RBA’s Christopher Kent says banks have tightened lending standards for SMEs, charging them more and imposing more restrictive terms on their loans.

Conduct, Culture & Accountability

New Financial Consumer Protection Law to Take Effect in Korea

21/03/2021

The law expands consumer rights, raises penalties for breaches, and requires FIs to set up internal controls to protect consumers.

Structural Regulation

Malaysia SC Outlines Capital Market Plans for 2021

21/03/2021

The SC said it will launch its five-year Capital Market Masterplan 3 in H2 2021, strengthen its regulatory capabilities, and streamline conduct requirements.