Enforcement
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Indonesia Regulator to Set-up Regtech Surveillance System
Editors, Regulation Asia November 27, 2017New technology to include integrated surveillance including early-warning system, data analysis and online regulatory reporting for financial institutions.
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Vietnam to Allow Banks to Go Bankrupt
Editors, Regulation Asia November 27, 2017Bankruptcy 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'
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HSBC Private Bank Fined $50mn for Crisis-era Product Mis-selling
Editors, Regulation Asia November 23, 2017Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.
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Ex CITIC Securities President Jailed 3.5 Years for Corruption
Editors, Regulation Asia November 16, 2017Caixin reports that Cheng Boming was among 11 CITIC executives detained for alleged insider trading and leaking information during 2015 market meltdown.
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Australia, Indonesia, Malaysia to Hold CTF Summit
Editors, Regulation Asia November 16, 2017Summit to include ‘codeathon’, with 80 participants demonstrating new digital tools and ideas to address the challenge of terrorist financing.
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MAS MD Sets out Fintech Regulation Agenda
Editors, Regulation Asia November 16, 2017Ravi Menon sets out raft of initiatives including new Payment Services Bill, technology risk management guidelines, machine readable forms.
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Singapore Launches Cybercrime Centre
Garima Chitkara, Regulation Asia November 16, 2017Centre is a collaboration between FS-ISAC and MAS; will provide internship training cybercrime fighters from Temasek Polytechnic.
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AUSTRAC Hails Tabcorp Fine for AML/CTF Breaches
Garima Chitkara, Regulation Asia November 16, 2017Casino and gaming operator fined more than $34mn for a series of AML/CTF failures; AUSTRAC stresses management responsibility.
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Australian Banks’ Rate Rigging Settlement Confirmed
Editors, Regulation Asia November 13, 2017ANZ and NAB will pay a total of $76mn for attempting to manipulate Bank Bill Swap Rate; Westpac Banking still fighting claims.
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China to Clampdown on Money Laundering via Property Market
Editors, Regulation Asia November 6, 2017Developers to conduct due diligence checks on sources of funding, buyers must use their own accounts to make property purchases in AML drive.
