Enforcement

    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.

    AML / KYC

    AUSTRAC Hails Tabcorp Fine for AML/CTF Breaches

    By Garima Chitkara | 16/11/2017

    Casino and gaming operator fined more than $34mn for a series of AML/CTF failures; AUSTRAC stresses management responsibility.

    Enforcement

    Australian Banks’ Rate Rigging Settlement Confirmed

    By Editors | 13/11/2017

    ANZ and NAB will pay a total of $76mn for attempting to manipulate Bank Bill Swap Rate; Westpac Banking still fighting claims.

    Capital / Liquidity

    China to Clampdown on Money Laundering via Property Market

    By Editors | 06/11/2017

    **Developers to conduct due diligence checks on sources of funding, buyers must use their own accounts to make property purchases in AML drive.
    **

    Capital / Liquidity

    FSB Reports on ‘Rise of the Financial Machines’, Backs Regtech

    By Samuel Riding | 02/11/2017

    Report suggests AI and machine learning could create new systemically important players, warns on opacity, audit difficulty.

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