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Supervision & Enforcement
HK SFC Investigating 15 IPO Sponsors for ‘Substandard’ Work
By Samuel Riding | 12/10/2017
Head of enforcement says the IPO sponsors may have failed to verify data, opening the door to fraud by the listing companies.
KYC & CDD
FIs No Longer Have to Verify Client Addresses for AML/CTF – HKMA
By Editors | 12/10/2017
AML/CTF regulations to be changed; banking regulator says any current absence of address verification will be seen as justified.
Market Abuse
Hong Kong-China to Share Stock Connect Broker, Trader Names
By Editors | 11/10/2017
SFC chief says move will enhance market transparency and surveillance, and improve efficiency in cracking down on malpractice.
Emerging Prudential Risks
China Banking Regulator Doubles Down, Again, on Systemic Risk
By Editors | 11/10/2017
CBRC says failure of regulators to identify risks amounts to ‘dereliction of duty’; urges lenders to sort out non-performing loans.
Cryptocurrency
Official Media Confirms China Bitcoin Ban Only Temporary
By Editors | 09/10/2017
Xinhua says authorities will introduce a licensing programme and stricter AML rules for cryptocurrency exchanges; ICOs also to become regulated.
Supervision & Enforcement
Malaysian Central Bank to ‘Name and Shame’ Rulebreakers
By Editors | 09/10/2017
Bank Negara Malaysia governor says it has shared the names of more than 400 individuals with banks in the country over the past three months.
KYC & CDD
Standard Chartered Guernsey-Singapore Transfers Under Investigation
By Editors | 09/10/2017
Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.
Anti-Money Laundering
Forensic Accountancy Programme Launched in Singapore to Combat Financial Crime
By Editors | 05/10/2017
Forensic accountancy qualification will be open to financial crime compliance and investigations professionals; ACRA to consider monitoring audit firms.
Anti-Money Laundering
China Raises AML Concerns About Non-financial Sectors
By Editors | 05/10/2017
PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.
Anti-Money Laundering
Chinese Money Laundering or Capital Transfer – ‘Vive la Différence’
By Editors | 02/10/2017
Financial technology and digital payment systems are abetting the greatest money laundering campaign in the history of finance.
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