Financial Crime

Anti-Money Laundering

Japan, China, U.S. Jointly Push FATF on Virtual Currency Regulation

By Editors | 18/06/2015

Financial authorities of Japan, the United States and China plan to establish joint regulations to prevent the use of virtual currencies to finance illegal activities such as terrorism.

Emerging Prudential Risks

Vietnam Banking Regulator Clamps down on Excess Holdings at Banks

By Editors | 11/06/2015

The State Bank of Vietnam has issued a regulation requiring stakeholders to reduce their excess holdings in local banks to the permitted limits.

Anti-Bribery & Corruption

Anti-Corruption Practices Must Encompass Entire Banking Process

By Peter Guy | 09/06/2015

Expanding due diligence capabilities will require strong data and information resources.

Supervision & Enforcement

SFC Proposes Legislative Change to Increase Cross-Border Regulatory Assistance

By Editors | 05/06/2015

The SFC is proposing legislative amendments which would give it discretion to provide supervisory assistance to regulators outside Hong Kong.

Conduct, Culture & Accountability

ASIC Proposes Register of “Bad Apple” Stockbrokers

By Editors | 02/06/2015

In an effort to protect investors and boost consumer confidence, ASIC is pushing to create a register which would list stockbrokers’ disciplinary records.

Anti-Bribery & Corruption

Hong Kong Reviews Impact of FIFA Probe on Banks

By Editors | 28/05/2015

Hong Kong is “monitoring the implications” for banks following bribery and corruption charges against officials of the football governing body FIFA.

Conduct, Culture & Accountability

Investment Banks Need Corporate Culture Shift, says ASIC

By Editors | 28/05/2015

ASIC has issued reports to the boards of several investment banks on potential deficiencies in their corporate culture.

Structural Regulation

Indonesia Court to Decide on Fate of Banking Regulator

By Editors | 24/05/2015

Indonesia’s constitutional court is expected to decide soon on whether the Financial Services Authority (OJK) can continue to supervise the country’s banking industry.

KYC & CDD

S. Korea FSC Eases Bank Account Opening Process

By Editors | 19/05/2015

Customers opening new bank accounts will no longer be required to visit bank offices in person