Securities regulator to conduct on-site inspections, benchmark vs other regulators.
Former representative said to have breached Code of Conduct; banned for 10 years.
Lexis Nexis survey suggests KYC data sharing could help institutions’ meet financial inclusion goals.
Joint Financial Intelligence Unit received nearly 60,000 reports in 1st nine months of 2016.
Bank warns of ‘financial consequences’ if regulator takes action.
Changes include modified data fields, description, and enumerated values for mandatory reporting.
Company owner’s licence is revoked; banned for 10 years for abuse of clients’ trust.
Swiss bank could face fines or temporary suspension of advisory services.
AIs are expected to participate in the service unless they have ‘equally effective’ arrangements.
Regulator says Code of Conduct requirements are at par with international standards, adds some measures.
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