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Supervision & Enforcement
BCBS Publishes Study on Early Supervisory Intervention Practices
By Editors | 03/04/2018
Intervention action should be taken to correct unsafe or unsound banking practices before rules and buffers are materially breached.
Operational Risk
Bangladesh Banks Call for Reforms on Internal Controls, Compliance
By Garima Chitkara | 02/04/2018
The Bangladesh Institute of Bank Management presented a report calling for reform of internal control and compliance departments at the country’s banks.
Anti-Money Laundering
Sri Lanka Investigating “Suspicious” Chinese-held Bank Accounts
By Garima Chitkara | 02/04/2018
Sri Lanka’s financial crimes unit is investigating suspicious transactions originating from three Chinese-held accounts with LKR957 million.
Anti-Money Laundering
Australia’s Largest Tax Fraud Case Ends with 10-year Jail Sentence
By Samuel Riding | 02/04/2018
Duo spent $103mn in illicit gains on Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW and yachts
Cybersecurity
Malaysia Foils Cyber Attack Involving Falsified SWIFT Messages
By Manesh Samtani | 01/04/2018
Unauthorised transactions were prevented by central bank, no financial losses occurred; near breach prompts increased vigilance in the Philippines.
Market Risk
ICICI Bank Fined for Failing to Disclose Debt Securities Sale
By Garima Chitkara | 31/03/2018
ICICI Bank sold debt securities from its held-to-maturity portfolio in excess of 5 percent of total value without the necessary disclosure in contravention with RBI rules.
Emerging Prudential Risks
Chinese Government Approves WMP Clampdown
By Editors | 30/03/2018
New rules to reduce leverage, ban guarantees; financial court to be set up in Shanghai will jurisdiction over major legal cases.
Cryptocurrency
Thailand Finalises Cryptocurrency Tax Framework
By Manesh Samtani | 30/03/2018
Cryptocurrency trades to be subject to 7 percent value added tax and 15 percent capital gains tax; fintech association chair says move may drive startups overseas.
Conduct, Culture & Accountability
Royal Commission Exposes Multiple Lending Practice Failures at Big Four
By Manesh Samtani | 29/03/2018
Public inquiry’s first round of hearings reveals multiple failures at ‘big four’ banks to lend in customers’ best interests.
AI Risk & Governance
Indian Exchange Eyes Machine Learning, AI to Combat HFT Risks – Report
By Editors | 28/03/2018
Managing director and CEO of National Stock Exchange tells Livemint new technology is needed to meet traders’ increasing sophistication.
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