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Anti-Money Laundering
South Korean Crypto Exchanges Raided in Embezzlement Probe
By Manesh Samtani | 20/03/2018
Staff and executives at three exchanges allegedly siphoned customer deposits to buy cryptocurrency on other platforms.
Emerging Prudential Risks
China’s Bold Regulatory Reorganisation
By Peter Guy | 19/03/2018
Super regulator’s major obstacle will be resisting the cycles of international financial history while meeting the challenges of a big, fast-growing economy.
Anti-Money Laundering
Supervisory Flaws Hurting Remittance Providers – FSB
By Manesh Samtani | 19/03/2018
Report says AML/CTF and other supervisory shortfalls limit remittance providers’ access to banking services; makes 19 recommendations to address barriers.
KYC & CDD
FSB Reports Progress on Correspondent Banking Decline
By Manesh Samtani | 19/03/2018
Report discusses strengthening due diligence tools to support correspondent banking relationships and improved monitoring.
Conduct, Culture & Accountability
S.Korea to Tighten Financial Holding Company Governance Rules
By Editors | 18/03/2018
Financial regulator says it will toughen rules on appointments amid corporate governance concerns re excessive influence, lack of innovation.
Cryptocurrency
Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain
By Manesh Samtani | 17/03/2018
In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.
Market Abuse
Shanghai, Shenzhen Bourses Draft Compulsory Delisting Rules
By Editors | 16/03/2018
False, misleading or fraudulent listing, restructuring documents or other disclosures including annual reports will trigger the delisting mechanism.
Fraud, Scams & Cybercrime
India Bans Bank Issuance of Key Trade Finance Instrument
By Manesh Samtani | 16/03/2018
An estimated $10bn in LoUs will need to be wound down within three months, forcing banks to rebalance assets and liabilities.
Anti-Money Laundering
SEBI Issues Clarifications on New Foreign Investor Norms
By Garima Chitkara | 15/03/2018
Foreign Portfolio Investors should not be Indian residents, non-resident Indians or overseas citizens of India; must be from AML/CTF compliant jurisdictions.
Anti-Bribery & Corruption
Australia’s Royal Commission Hears Bribery Allegations
By Garima Chitkara | 15/03/2018
NAB staff allegedly falsified documents to achieve home loan targets, branch managers colluded with loan introducers to manipulate incentive schemes.
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