Financial Crime

Capital Adequacy

S. Korea Trials New Regulatory Framework For Financial Holding Firms

By Garima Chitkara | 02/07/2018

FSC has developed a new standard for gauging capital adequacy at South Korea’s financial conglomerates; The new metric ranks Samsung the highest and Hyundai the lowest – but still above levels that would require it to raise equity.

PEPs & Sanctions

SWIFT and the Death of Global Financial Regulations

By Peter Guy | 02/07/2018

Intense geopolitical rivalries and new technologies threaten a new Cold War by enabling weaponisation of the international payment system and disruption of the international financial order.

Conduct, Culture & Accountability

Hong Kong SFC Releases 2017-18 Annual Report

By Manesh Samtani | 02/07/2018

Highlights for the year include progress on MIC regime, guidance on online trading platforms, and regulatory collaboration with other agencies.

Anti-Money Laundering

Japan to Use Credit Scores to Monitor Crypto Trading

By Emma Zhou | 29/06/2018

The Japanese government plans to use personal credit information and social media IDs to monitor suspicious crypto trading activities and accounts.

Conduct, Culture & Accountability

Communist Party Committees To Foster Risk Aversion at Chinese Banks

By Garima Chitkara | 28/06/2018

China’s regional and mid-tier banks are formally establishing Communist Party committees in support of the government’s bid to crackdown on excessive risk taking in the banking sector.

Fraud, Scams & Cybercrime

S. Korea Investigates Three Banks for Loan Rate Manipulation

By Garima Chitkara | 28/06/2018

Citibank Korea, BNK Kyongnam Bank and KEB Hana Bank are being investigated by FSS over allegedly manipulating loan rates to overcharge retail borrowers.

Data Privacy

Non-EU Markets Regulators Seek Formal GDPR Exemptions – Report

By Manesh Samtani | 28/06/2018

New EU data privacy law could put cross-border investigations in jeopardy, leading non-EU regulators including Japan’s FSA and Hong Kong’s SFC to press for formal clarification on application of cross-border information sharing exemptions.

Supervision & Enforcement

ASIC Signs Enhanced MoU on Cross Border Enforcement Cooperation

By Karen Chiu | 28/06/2018

Australia has become the sixth signatory to IOSCO’s enhanced framework for the cross-border cooperation and information sharing by securities regulators to combat technology-aided financial misconduct.

Anti-Money Laundering

S. Korea Tightens AML Rules for Cryptocurrencies

By Emma Zhou | 28/06/2018

New guideline requires financial institutions to strengthen monitoring and enhance due diligence on accounts intended for crypto exchange operations and report suspicious transactions to KoFIU, including transfers to overseas exchanges.