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AML / KYC
China Micro-lenders Ordered to Halt Business
By Editors | 27/11/2017
Murkiest of shadow banking sectors has extended short term credit of more than $150bn; extremely high rates, collection methods have led to ‘social problems’.
Enforcement
HK Regulators Warn on Conflicts of Interest in Product Sales
By Editors | 27/11/2017
HKMA, SFC say some intermediaries aren’t revealing related counterparties, not executing at best price, hide cheaper products.
AML / KYC
Singapore, Abu Dhabi to Cooperate on Banking Supervision, Markets, Fintech
By Editors | 27/11/2017
Middle Eastern regulator has already approved one Singapore firm to provide credit services; Singapore firm won Fintech challenge.
Capital / Liquidity
Indonesia Regulator to Set-up Regtech Surveillance System
By Editors | 27/11/2017
New technology to include integrated surveillance including early-warning system, data analysis and online regulatory reporting for financial institutions.
Capital / Liquidity
Vietnam to Allow Banks to Go Bankrupt
By Editors | 27/11/2017
Bankruptcy will be a last resort; Vietnamese banking sector has bad debts of 8.6% of total credit, 17.2% NPL ratio; Moody’s outlook ‘positive’
Enforcement
HSBC Private Bank Fined $50mn for Crisis-era Product Mis-selling
By Editors | 23/11/2017
Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
Enforcement
Ex CITIC Securities President Jailed 3.5 Years for Corruption
By Editors | 16/11/2017
Caixin reports that Cheng Boming was among 11 CITIC executives detained for alleged insider trading and leaking information during 2015 market meltdown.
AML / KYC
Australia, Indonesia, Malaysia to Hold CTF Summit
By Editors | 16/11/2017
Summit to include ‘codeathon’, with 80 participants demonstrating new digital tools and ideas to address the challenge of terrorist financing.
AML / KYC
MAS MD Sets out Fintech Regulation Agenda
By Editors | 16/11/2017
Ravi Menon sets out raft of initiatives including new Payment Services Bill, technology risk management guidelines, machine readable forms.
AML / KYC
Singapore Launches Cybercrime Centre
By Garima Chitkara | 16/11/2017
Centre is a collaboration between FS-ISAC and MAS; will provide internship training cybercrime fighters from Temasek Polytechnic.
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