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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.
Market Abuse
Cybercrime Threatening Market Integrity – ASIC
By Samuel Riding | 23/08/2017
Australian regulator says market integrity will be a top priority over the next six months amid a surge in related misconduct issues.
Fraud, Scams & Cybercrime
Japan FSA to Set up Anti Cybercrime, Money Laundering Bureau
By Editors | 23/08/2017
Internal reorganisation acknowledges growing role of fintech, which will be regulated by FSA Planning and Coordination Bureau with enhanced powers.
Cybersecurity
Philippines Central Bank to Embrace Regtech
By Samuel Riding | 21/08/2017
Regtech to include API for FIs’ reporting; BSP to push financial services firms to improve cyberdefences; two bitcoin exchanges get regulatory approval.
Cryptocurrency
Australia Signals Currency Status, AML Clampdown for Bitcoin
By Samuel Riding | 21/08/2017
Cryptocurrency to be brought under AUSTRAC; proposal to follow Japan in giving bitcoin legal tender status being considered by central bank.
Anti-Money Laundering
Indian Brokers’ AML Compliance Under Heightened Scrutiny
By Editors | 20/08/2017
SEBI warned nearly 500 entities on possible money laundering over the last financial year; conducted 245 investigations into illegal stock market activity.
Anti-Money Laundering
Philippines Removed from AML/CTF Blacklist
By Samuel Riding | 16/08/2017
Asia / Pacific Group also removes Pakistan, Taiwan and Vietnam from list of closely monitored countries after improvements in AML/CTF regimes.
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