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Emerging Prudential Risks
China Turns Local Governments into Regulatory Enforcers
By Editors | 23/10/2017
PBOC governor says regulatory agencies not properly coordinated, reiterates concern about bad debt as China transforms into market economy.
Cybersecurity
Taiwan FSC to Establish Platform for Information Security
By Editors | 19/10/2017
Order issued after reports that hackers breached bank’s online transaction system and stole $60mn which was distributed via SWIFT.
KYC & CDD
Dangers in Banks Supply Chain Facilitation
By JP Reimann | 19/10/2017
Why supporting supply chain activity could be a regulatory and reputational minefield for banks.
Trading & Investment
India to Allow Currency Hedging by Non-resident Companies
By Samuel Riding | 19/10/2017
RBI (the Reserve Bank of India) will allow central treasuries used by non-resident companies to hedge their rupee currency risk from trade transactions.
AI Risk & Governance
The Growing Human Limitations of Financial AI
By Peter Guy | 16/10/2017
Artificial intelligence might not harm humans, but humans can go to jail for the actions of bad robots.
Conduct, Culture & Accountability
Malaysia to Introduce Bank Employee Screening, Ethics Requirements
By Editors | 16/10/2017
Central bank moves to improve ethics within the industry, will require banks to introduce minimum conduct standards and policy.
Structural Regulation
India Releases Draft Rules for Electronic Trading Platforms
By Editors | 16/10/2017
Move comes as National Stock Exchange bids to end case of alleged unfair access via its co-location facility by offering to pay fine.
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.
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