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Anti-Money Laundering
Why Hong Kong’s New Trust Rules Won’t Boost AML/CTF Efforts
By Bradley Maclean | 01/03/2018
Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.
Structural Regulation
India to Ease Capital Markets Norms for Foreign Investors
By Garima Chitkara | 01/03/2018
Government to set up single-window clearance for foreign portfolio investors and allow foreign custodians to trade on behalf of their clients without registering with SEBI.
Fraud, Scams & Cybercrime
APRA Faces Questioning on Mortgage Fraud Risk Review
By Garima Chitkara | 01/03/2018
APRA chairman to answer questions on unreleased mortgage risk review findings in Australian Senate this week.
Anti-Money Laundering
Malaysia Issues AML/CTF Policy for Cryptocurrency Exchanges
By Manesh Samtani | 01/03/2018
Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.
Credit Risk
S.Korea Regulators Probe Bank’s Lending Practices
By Samuel Riding | 28/02/2018
Regulators want to ensure banks are determining interest rates properly as household debt stubbornly refuses to decline.
Fraud, Scams & Cybercrime
Hong Kong SFC to Focus on Corporate Fraud in 2018
By Editors | 27/02/2018
SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.
Fraud, Scams & Cybercrime
RBI Mandates Integration of SWIFT in Core Banking Software
By Manesh Samtani | 26/02/2018
Punjab National Bank says $1.8bn fraud went undetected because staff failed to enter SWIFT instructions in core banking software.
Alternative Markets
India to Tighten Rules for Alternative Investment Funds
By Garima Chitkara | 26/02/2018
SEBI to increase focus on source and use of funds going through the alternative investment fund framework.
Supervision & Enforcement
Indian Court Urges End to Auditor ‘Self Regulation’
By Editors | 26/02/2018
Supreme Court says auditors lack adequate oversight, have breached central bank and foreign direct investment rules and Chartered Accountants Act.
Supervision & Enforcement
HK SFC Sees Surge in Criminal Prosecutions
By Samuel Riding | 25/02/2018
Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.
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