System, which is awaiting approval from financial service authority, will require either fingerprint or retina scanning.
The BRIDGe working group will work to enhance operational efficiencies and service standards, promote innovation and reduce brokerage costs.
The central bank’s Financial Stability Committee says Malaysian banks have a “strong capacity” to withstand financial shocks comparable to past crises.
New capital requirements will be imposed on stock brokers, merchant banks, asset managers and institutional portfolio managers.
A moveable asset finance law would enable banks to accept collateral other than real estate such as stock, equipment and receivables.
Cryptocurrencies will be classified as assets and regulated by SEC; capital gains from trading to be taxed at 10 percent.
The Committee also published an assessment handbook and self-assessment questionnaire to help member jurisdictions prepare for future RCAP assessments.
Financial institutions will be required to forward references, hiring companies must check Financial Markets Association records.
Hi Chi Minh Stock Exchange to launch covered warrants in late March; issuers required to hold adequate underlying securities and submit daily reports to the exchange.
Vice chairman says to allow more foreign banks to set up more than one holding company, which each regulated separately according to different risk profiles.
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