HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.
The roadmap includes a new fintech examination and licensing system, to be introduced by 2022, and consent-based data sharing as part of an open banking push.
Under the law, P2P lenders must meet new capital requirements and be registered with the FSC. Consumer protection is also enhanced.
The enhanced regulatory sandbox will commence on 1 September, following legislative amendments passed in February and subsequent regulations made in May.
China is currently testing its sovereign digital currency with four state-run commercial banks in Shenzhen, Suzhou, Xiongan and Chengdu.
The new high-security data centre will be built in Guian New Area and become a key component of the PBOC's new financial infrastructure.
The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.
The report provides insights about the risk management frameworks and overarching supervisory principles banks use when adopting artificial intelligence.
Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.
Simplified LEI integration paves the way for all digital certificates to be linked by a universal identifier and reduces the resource burden on certificate issuers.
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