CBRC says failure of regulators to identify risks amounts to ‘dereliction of duty’; urges lenders to sort out non-performing loans.
Xinhua says authorities will introduce a licensing programme and stricter AML rules for cryptocurrency exchanges; ICOs also to become regulated.
Bank Negara Malaysia governor says it has shared the names of more than 400 individuals with banks in the country over the past three months.
Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.
Forensic accountancy qualification will be open to financial crime compliance and investigations professionals; ACRA to consider monitoring audit firms.
PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.
Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
Australian bankers rail against short deadline for comments on BEAR, which mirrors Hong Kong’s recently introduced MiC.
Nearly 50 firms have been shut down this year for operating without a license, offering unreasonably generous repayment terms, returns.
ETrade HK advertised its services for four years without a license; SFC says successful prosecution a 1st for the offence.
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