Enforcement
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Forensic Accountancy Programme Launched in Singapore to Combat Financial Crime
Editors, Regulation Asia October 5, 2017Forensic accountancy qualification will be open to financial crime compliance and investigations professionals; ACRA to consider monitoring audit firms.
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China Raises AML Concerns About Non-financial Sectors
Editors, Regulation Asia October 5, 2017PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.
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Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions
Editors, Regulation Asia October 4, 2017Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
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Asia Pacific FIs Enter New Era of Accountability
Editors, Regulation Asia September 28, 2017Australian bankers rail against short deadline for comments on BEAR, which mirrors Hong Kong’s recently introduced MiC.
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Indonesia Targets Illegal Investment Managers, Fund Collectors
Editors, Regulation Asia September 28, 2017Nearly 50 firms have been shut down this year for operating without a license, offering unreasonably generous repayment terms, returns.
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HK Regulator Seals 1st Conviction of Unlicensed Offshore Brokerage
Editors, Regulation Asia September 25, 2017ETrade HK advertised its services for four years without a license; SFC says successful prosecution a 1st for the offence.
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Philippine Central Bank Seeks to Capture Property Loan, Project Financing Risks
Editors, Regulation Asia September 25, 2017Lenders face tighter loan, financing reporting requirements as central bank says it will target ‘areas which require supervisory action’.
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India Interprets P2P Lenders as Non-bank Finance Companies
Editors, Regulation Asia September 21, 2017Official central bank report issued last year had suggested P2P lending platforms meet $311,000 minimum capital and leverage ratio requirements.
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New Zealand Raises the Bar for Bank Outsourcing
Editors, Regulation Asia September 21, 2017Largest banks will be required to have measures in place to survive the failure of a key service provider, according to new outsourcing policy.
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AUSTRAC to Lead Efforts to Combat IS Funding in Southeast Asia
Editors, Regulation Asia September 18, 2017Australia hopes to cooperate with other jurisdictions in SE Asia amid concern IS will turn its attention to the region after Middle East setbacks.
