Enforcement

AML / KYC

Commonwealth Bank Responds to AUSTRAC Allegations

By Garima Chitkara | 14/12/2017

Bank admits late filing of reports on more than 50,000 deposits into its ATMs, AUSTRAC seeking penalties for individual AML/CTF law breaches.

AML / KYC

US Lifts Threat of Criminal Charges against HSBC

By Garima Chitkara | 14/12/2017

Bank released from deferred prosecution agreement after meeting its terms; outgoing CEO says AML to remain ‘a top priority’ in 2018.

Enforcement

Hong Kong Court Confirms Legality of SFC-CSRC Information Sharing

By Editors | 12/12/2017

Judge rejects legal challenge to transfer of documents seized by SFC during execution of a search warrant to the Chinese securities regulator.

Capital / Liquidity

MiFID II: Everything European Banks Active in Asia Need to Know

By Fabienne Sayarath | 07/12/2017

Exploring key issues including the status of local subsidiaries, trading venue uncertainty, transaction reporting and more as the deadline looms.

AML / KYC

Don’t Panic – MiFID II Set for ‘Soft’ Launch

By Samuel Riding | 07/12/2017

Experts say regulators likely to accept a ‘best efforts’ approach for at least several weeks after MiFID II official implementation deadline.

AML / KYC

EU Blacklists S.Korea, Macau Tax Regimes; HK on ‘Greylist’

By Garima Chitkara | 07/12/2017

HK on ‘greylist’; Macau, S.Korea, on blacklist with the latter said to operate a ‘harmful preferential tax regime’ for the wealthy, companies.

AML / KYC

HK SFC Sees Criminal Charges Surge

By Editors | 07/12/2017

Securities regulator laid 42 charges in 6 months to end-September this year, up 180% from same period in 2016, but commenced far fewer investigations.

Capital / Liquidity

Australia to Kick off Long-awaited Royal Commission into Financial Sector

By Editors | 04/12/2017

Inquiry to look into alleged misconduct in financial sector welcomed by banks, securities regulator, but not superannuation scheme operators.

AML / KYC

HK SFC, CSRC Agree Investor ID System for Northbound Stock Connect

By Editors | 04/12/2017

SFC says Northbound scheme will be followed by Southbound investor identification, eventually spread to all SEHK investors.