AML / KYC

Philippine AMLC Issues New Transaction Reporting Guidelines

12/01/2025

The AMLC says the guidelines, to be adopted in phases, are intended to help covered persons carry out one of their “primary duties”

RBNZ Issues First Non-Bank Deposit Taker Licence in 8 Years

10/01/2025

The RBNZ granted the licence to Welcome Limited, which plans to offer higher deposit rates than banks and more flexible mortgage solutions

Fintech / Regtech

HKMA Launches Supervisory Incubator to Promote Responsible DLT Adoption

09/01/2025

The incubator provides banks a one-stop platform for obtaining supervisory feedback on DLT-related proposals and the option to conduct live trials.

Market Infrastructure

Hong Kong Announces Enhancements to New Immigration Scheme for Investors

09/01/2025

Christopher Hui said the enhancement measures will encourage more participation and create synergy with the tax concession regime for family offices.

Enforcement

SFC Imposes Lifetime Ban on Former StanChart Insurance Rep

08/01/2025

Chan Ka Him induced two clients to transfer funds to a bank account he controlled on the pretence that they would be used to settle premium payments

Fintech / Regtech

HKMA Calls on Banks to Participate in Cyber Intelligence Platform

03/01/2025

The HKMA welcomed enhancements to the Platform announced by HKAB and called on banks to actively participate in the initiative.

Australia Publishes Ministerial Rules to Implement Global Minimum Tax

23/12/2024

Treasurer Jim Chalmers said the ministerial rules will ensure multinational corporations operating in Australia pay their “fair share of tax”.

Fintech / Regtech

HKMA’s Carmen Chu Urges Banks to ‘Embrace the Opportunities’ of GenAI

22/12/2024

HKMA’s Carmen Chu said banks should foster a culture of “continuous learning” within their institutions and experiment with HKUST’s InvestLM GenAI Platform.

Market Infrastructure

HKMA Requiring Banks to Develop Capability to Switch Between CRAs

20/12/2024

Retail banks must have agreements in place with more than one CRA by Jan 2025 and complete switch-over testing within Q2 2025