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KYC & CDD
Malaysia Central Bank to Finalise e-KYC Standards
By Editors | 11/09/2017
BNM governor has said the central bank intends to operationalise industry-wide e-KYC from next year; regulations for use in remittances to come soon.
Anti-Money Laundering
Taiwan Tightens Securities, Futures Firms’ Internal Control Requirements
By Samuel Riding | 07/09/2017
New regulations will require firms involved in securities and futures markets to set up separate AML/CTF units, boost FSC inspection powers.
Market Abuse
SEBI Bars 19 Firms for Depository Receipt Market Manipulation
By Editors | 07/09/2017
Regulator says violations could make investors ‘lose faith in the Indian securities market and even good companies will find it extremely difficult to raise capital’.
Cryptocurrency
China Joins Stampede to Regulate ICOs
By Samuel Riding | 31/08/2017
Regulators to introduce rules on ICOs/ITOs which raised nearly $400mn in 1st half of 2017; follows moves by the US and Singapore in July.
Market Abuse
Japan SESC Reveals Rise in Market Misconduct
By Samuel Riding | 30/08/2017
Misconduct cases up 66%; regulator cites blockchain and cloud computing as hindrance to monitoring efforts, eyes regtech solutions.
Anti-Money Laundering
HK SFC, Police Join Forces to Combat Financial Crime
By Samuel Riding | 29/08/2017
Agreement aims to clamp down on financial crime via securities markets; SFC has identified ‘multiple weaknesses’ in broker AML/CTF.
Conduct, Culture & Accountability
Australian Regulator Launches CBA Inquiry
By Samuel Riding | 29/08/2017
APRA inquiry to look at whether governance, culture and accountability frameworks conflict with ‘sound risk management and compliance outcomes’.
Market Abuse
Korea Toughens Short-selling Rules
By Samuel Riding | 28/08/2017
Measures are expected to sharply increase incidences of excessive short selling; new categories of offence come with heavier maximum penalty.
Supervision & Enforcement
Philippine Central Bank Strengthens Compliance Standards
By Editors | 28/08/2017
Chief compliance officer must be full-time, boards given overarching responsibility; foreign banks must translate all documents into English.
Anti-Money Laundering
Lawyers Seek to Sue Bank for Share Price Drop after AML Revelations
By Editors | 24/08/2017
Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.
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