FINTECH / REGTECH

AML / KYC

BitMEX Founders Charged for Evading AML Requirements

By Editors | 03/10/2020

Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.

AML / KYC

Australia to Allocate A$800m to Digital Initiatives in Budget

By Editors | 02/10/2020

The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.

Fintech / Regtech

ACCC Concludes Refinitiv-LSEG Merger Review

By Editors | 02/10/2020

The ACCC examined horizontal overlaps and vertical relationships between LSEG and Refinitiv, as well as potential competition issues, and is not opposed to the transaction.

AML / KYC

FATF Upgrades China on Three Recommendations in Follow-up

By Manesh Samtani | 01/10/2020

This is to reflect progress on regulating online lending, guidance issued to online lending and other DNFBP sectors, and China’s prohibition on virtual asset activities.

Fintech / Regtech

RegTech Asia 2020: Regulatory Reporting & Data Management

By Editors | 01/10/2020

How have regulatory reporting requirements been changing in APAC, and what has this meant for data management practices at financial institutions?

Market Infrastructure

CHESS Replacement ‘Critical’ to Manage Systemic Risk: RBA

By Editors | 01/10/2020

Replacing CHESS with more modern technology is critical to ASX’s ongoing management of systemic risk, said RBA assistant governor Michele Bullock.

Fintech / Regtech

Two More Virtual Banks Launch in Hong Kong

By Manesh Samtani | 01/10/2020

Ant Bank and Ping An OneConnect Bank launched virtual banks in Hong Kong. Fusion Bank is the only virtual bank that has not yet commenced operations.

Fintech / Regtech

MAS Orders Wirecard Entities to Cease Singapore Payment Services

By Editors | 30/09/2020

Wirecard has informed MAS that it is unable to continue providing payment processing services to a significant number of merchants.

Fintech / Regtech

RegTech Asia 2020: Trade Surveillance and Monitoring

By Editors | 30/09/2020

What has the increased use of new client communication modalities to facilitate trading amid the pandemic meant for market surveillance and regulatory compliance?