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Capital Adequacy
EU Regulators Consider Stricter Rules for Foreign Banks
By Editors | 06/02/2022
EU regulators are reportedly considering rule revisions that could force more foreign banks to operate as subsidiaries rather than branches.
Fraud, Scams & Cybercrime
China Eases Process for Investors to Seek Redress for Securities Fraud
By Editors | 06/02/2022
Administrative penalties or criminal judgments will no longer be preconditions for courts to accept civil compensation cases involving securities fraud.
Fraud, Scams & Cybercrime
MAS to Introduce Equitable Loss Sharing Framework for Scams
By Manesh Samtani | 04/02/2022
OCBC’s goodwill payouts to fully cover customer losses were a one-off gesture, and they “do not set a general precedent for future cases”, MAS said.
PEPs & Sanctions
New Sanctions Imposed Against Myanmar Officials
By Editors | 04/02/2022
US and Singapore officials have reportedly met to discuss ways to limit Myanmar’s military from accessing financial assets overseas.
Supervision & Enforcement
Philippines to Enhance Supervision of Financial Conglomerates
By Editors | 04/02/2022
The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.
Emerging Prudential Risks
Skills Gap a Key Bottleneck for Macao Financial Sector: IMF
By Sanday Chongo Kabange | 02/02/2022
The IMF proposes a multi-prong approach to bridge the skills gap and support the development of modern financial services in Macao.
Emerging Prudential Risks
APRA Commences Initiative to Modernise Prudential Architecture
By Editors | 02/02/2022
APRA says there will be a need for innovation in regulation and new rules, including to address how crypto-assets are treated for prudential purposes.
PEPs & Sanctions
Preparing for New Russia-Related Sanctions, Export Controls
By Nick Turner | 01/02/2022
Nick Turner and Steptoe partners summarize noteworthy US proposals for imposing Russia-related sanctions over the situation in Ukraine.
Anti-Money Laundering
EBA Launches EuReCA, a Central Database for AML/CFT
By Editors | 01/02/2022
EuReCA will act as an early warning tool which will help competent authorities to act before ML/TF risks crystallise, the EBA said.
Conduct, Culture & Accountability
Korea FSS Proposes to Partially Suspend Hana Bank Operations
By Editors | 01/02/2022
The FSS is also proposing to force Hana Bank executives and employees involved in DLF mis-selling to pay penalties.
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