BNM governor has said the central bank intends to operationalise industry-wide e-KYC from next year; regulations for use in remittances to come soon.
New regulations will require firms involved in securities and futures markets to set up separate AML/CTF units, boost FSC inspection powers.
Regulator says violations could make investors ‘lose faith in the Indian securities market and even good companies will find it extremely difficult to raise capital’.
CBRC chief adviser and former SFC chief Dr Andrew Sheng says regulation risks pro-cyclicality when real economy requires structural change.
Regulators to introduce rules on ICOs/ITOs which raised nearly $400mn in 1st half of 2017; follows moves by the US and Singapore in July.
Agreement aims to clamp down on financial crime via securities markets; SFC has identified ‘multiple weaknesses’ in broker AML/CTF.
APRA inquiry to look at whether governance, culture and accountability frameworks conflict with ‘sound risk management and compliance outcomes’.
Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.
Cryptocurrency to be brought under AUSTRAC; proposal to follow Japan in giving bitcoin legal tender status being considered by central bank.
SEBI warned nearly 500 entities on possible money laundering over the last financial year; conducted 245 investigations into illegal stock market activity.