Financial Crime

Anti-Money Laundering

Europe’s Latest AML Directive a Huge Challenge for Asian Operations

By Bradley Maclean | 14/02/2018

4th AMLD to prove a headache for Asian institutions which already share clients and data with EU-based subsidiaries, potentially influencing Asia-based parent institutions themselves.

Liquidity Risk

Philippines to Implement Minimum Liquidity Ratio for Small Banks

By Garima Chitkara | 12/02/2018

Smaller banks subject to LCR of 100 percent if they are subsidiaries of larger banks and minimum liquidity ratio of 20 percent if standalone.

Data Privacy

India to Stiffen Personal Privacy Law, Create Fintech Sandbox

By Samuel Riding | 12/02/2018

Inter-regulatory group concerned about ‘dearth’ of coherent law on customer data, recommends multiple measures to support development of fintech regulatory framework.

Anti-Money Laundering

IMF, ADB, Aus, NZ Seek Lower Cost Remittances for the Pacific

By Editors | 11/02/2018

Possible solutions include enhancing AML/CFT controls at banks, promoting best practices at money transfer operators, improving information sharing by supervisory authorities.

Anti-Money Laundering

Australia to Crack Down on Tax Avoidance by Multinationals

By Editors | 10/02/2018

Consultations relate to implementation of multilateral which will modify existing bilateral tax treaties, closing loopholes used by multinationals to avoid taxation.

Supervision & Enforcement

China ‘Techfins’ Alibaba, Tencent Fined for Forex Breaches

By Editors | 10/02/2018

Financial units of Alibaba and Tencent fined for offences including failure to file reports on forex payments by non-residents.

Supervision & Enforcement

Credit Suisse Hong Kong Fined $5mn

By Editors | 10/02/2018

Regulatory breaches include failures related to segregation of client securities, reporting of transaction, noncompliance with short selling requirements, unsuitability of investment products sold to clients.

Conduct, Culture & Accountability

Korea Seeks to Expand Recruitment Probe to NBFIs

By Editors | 09/02/2018

Probe could include some 70 savings banks, insurers, credit card providers and investment companies.

Conduct, Culture & Accountability

Australia Moves to Cap Banker Pay

By Garima Chitkara | 08/02/2018

New law intended to restore trust in scandal-hit sector; executives to be held directly accountable and can be potentially banned from the industry on non-compliance.