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KYC & CDD
Registration with Financial Information System Compulsory – Indonesia Regulator
By Editors | 11/01/2018
Move will require all financial services firms operating in the country to provide customers identification and tax details to the regulator by 2022.
Cryptocurrency
Korea, China, Japan Join Hands on Cryptocurrency Regulation
By Manesh Samtani | 10/01/2018
Korea carries out bank inspections, China power cut on Bitcoin miners, Japan scrutinises banks’ cryptocurrency activities.
Anti-Money Laundering
Singapore to Enforce AML/CTF Rules on Cryptocurrency Intermediaries
By Garima Chitkara | 10/01/2018
Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.
Operational Risk
Japan Regulator to Overhaul Supervision and Restructure
By Samuel Riding | 08/01/2018
FSA’s move towards ‘dynamic supervision’ includes scrapping inspection manuals, restructuring governance, internal structure and HR policy.
Cryptocurrency
No Ban on Cryptocurrency, says Malaysia Finance Minister
By Manesh Samtani | 05/01/2018
Exchanges to be recognised by central bank once regulations are in place; draft guidelines on reporting obligations to come into force early 2018.
Anti-Money Laundering
China Further Restricts Overseas Cash Withdrawals
By Garima Chitkara | 02/01/2018
New rules effective from January 1st restrict individuals withdrawing a maximum of RMB 100,000 per year regardless of the number of separate bank accounts or ATM cards.
Cryptocurrency
Korea Clamps Down on Cryptocurrency Speculation
By Manesh Samtani | 02/01/2018
Traders can only use real names to open cyptocurrency accounts, must be authenticated by banks under state regulatory jurisdiction.
Conduct, Culture & Accountability
HK SFC Releases 1st MiC Regime Guidance Bulletin
By Editors | 20/12/2017
Report warns on conflicts of interest in sales practices and asset management; notes asset management sector now has more than half of all intermediaries.
Anti-Money Laundering
Singapore Issues 7th, 8th Bans Related to 1MDB Probe
By Editors | 20/12/2017
Yeo Jiawei, a former BSI wealth manager, gets lifetime ban to add to his convictions for 1MDB related money laundering, cheating and witness tampering.
Supervision & Enforcement
Thailand, Philippines Forge Agreement on Banking Supervision
By Editors | 19/12/2017
Central banks commit to fostering information exchange and cooperation in areas of licensing, on-site examinations, supervisory colleges, crisis management.
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