Asia Pacific Group says authorities have not yet grasped cross-border AML risks, but praises use of intelligence to produce suspicious transaction reports.
Move hints at increasing global concern that car finance, fuelled by low interest rates, could be source of next sub-prime crisis.
Murkiest of shadow banking sectors has extended short term credit of more than $150bn; extremely high rates, collection methods have led to ‘social problems’.
HKMA, SFC say some intermediaries aren’t revealing related counterparties, not executing at best price, hide cheaper products.
Middle Eastern regulator has already approved one Singapore firm to provide credit services; Singapore firm won Fintech challenge.
New technology to include integrated surveillance including early-warning system, data analysis and online regulatory reporting for financial institutions.
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'
Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
Caixin reports that Cheng Boming was among 11 CITIC executives detained for alleged insider trading and leaking information during 2015 market meltdown.
Summit to include ‘codeathon’, with 80 participants demonstrating new digital tools and ideas to address the challenge of terrorist financing.
Loading more posts...
Sorry, no more posts
No more pages to load