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KYC & CDD
HKMA Issues Guidance on Remote Onboarding of Corporate Clients
By Editors | 25/09/2020
Onboarding processes should be designed reflecting the principle that CDD is not merely a document collection exercise, the HKMA says.
Cybersecurity
SFC Identifies Cybersecurity Deficiencies at Internet Brokers
By Editors | 23/09/2020
The SFC found deficiencies relating to two-factor authentication, data encryption, session timeout, monitoring and surveillance, among other areas.
Clearing & Post-Trade
Riding the Tech Wave in a Volatile Derivatives Market
By John Omahen | 23/09/2020
A surge in trading volumes has highlighted the need for brokerage firms to re-engineer their businesses for the future, writes John Omahen at FIS.
KYC & CDD
Sri Lanka: CSE Enables Digital ID Verification for Account Opening
By Duruthu E Chandrasekera | 22/09/2020
The CSE and Central Depository System can digitally verify national ID card details against information held by the Department for Registration of Persons.
Cybersecurity
Saxo Japan Ordered to Bolster Controls After Data Breach
By Editors | 22/09/2020
The breach included clients’ names, contact details, date of birth, bank account information, and identity verification documents of 750 clients.
Cybersecurity
Korea FSS to Ease Restrictions on External Network Access
By Editors | 21/09/2020
The FSS will ease restrictions on external access to network systems at local financial firms, in line with new norms amid the Covid-19 pandemic.
Credit Risk
BOT Sets Out New Rules for ‘Digital Personal Loans’
By Editors | 21/09/2020
Under the regulations, alternative data including payment information relating to water, electricity and telephone bills can be used to support loan applications.
Clearing & Post-Trade
Colombo Stock Exchange Digitalises Core Operations
By Duruthu E Chandrasekera | 18/09/2020
Account opening and post-trade functions such as clearing and settlement are now electronically enabled. E-contract notes and e-statements have also been adopted.
Payments & Settlements
SWIFT Announces Enhancements in Payments, Securities Processing
By Editors | 17/09/2020
The enhancements will be made available through a next-generation digital platform that will “fundamentally transform” payments and securities processing, SWIFT says.
Cybersecurity
HKMC Annuity Launches Video-Conferencing Application Service
By Editors | 17/09/2020
In a pilot run approved by the Insurance Authority under the Insurtech Sandbox, customers can apply for HKMC Annuity plans through video-conferencing.
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