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Operational Risk
Taiwan Raises Risk Management Expectations for Futures Funds
By Darien Choong | 15/11/2021
Futures trusts will need to have dedicated risk management departments and be prohibited from conducting discretionary futures trades for clients.
Structural Regulation
Bursa Malaysia Facing Legal Action from Listed Company
By Sanday Chongo Kabange | 14/11/2021
Oil and gas engineering group Serba Dinamik alleges Bursa was “acting in excess of power” by requiring the disclosure of findings from a special independent review.
Anti-Bribery & Corruption
US Treasury Sanctions Cambodian Officials for Corruption
By Ranamita Chakraborty | 13/11/2021
Businesses in Cambodia are warned to “be mindful of interactions with entities in corrupt business practices, criminal activities and human rights abuses”.
Payments & Settlements
Singapore, UAE Conclude Digital Trade Financing Pilot
By Editors | 12/11/2021
The pilot enabled trading counterparties and transacting banks to digitally validate and exchange trade documents in real-time.
Conduct, Culture & Accountability
SFC Bans Two Ex-Licensees Over Use of Client Accounts
By Editors | 12/11/2021
One former representative effected discretionary trades in clients’ accounts without authorisation. The other traded his own stocks from a client’s accounts.
CBDCs
PBOC Seeks to Enhance CBDC Design and Functionality
By Manesh Samtani | 11/11/2021
The PBOC will improve the e-CNY’s settlement efficiency, privacy protection, anti-counterfeiting measures, and interoperability with existing payment tools.
Anti-Money Laundering
APG Re-rates Sri Lanka on One FATF Recommendation
By Editors | 11/11/2021
Sri Lanka extended its foreign exchange declaration requirements to include the full range of bearer negotiable instruments, in line with Recommendation 32.
Anti-Money Laundering
Indonesia, UAE to Cooperate on Payments, Fintech, AML
By Editors | 11/11/2021
Central banks will cooperate on cross-border payments, fintech, and AML. Financial services regulators will cooperate on developing the Islamic finance industry.
KYC & CDD
Wolfsberg Group Endorses ISO 20022 Screening Guidelines
By Sanday Chongo Kabange | 11/11/2021
Wolfsberg Group says the adoption of ISO 20022 enables improved adherence to the group’s own ‘Payments Transparency Principles’.
Supervision & Enforcement
FSS Faces Criticism Over Revamp of Supervisory Approach
By Editors | 11/11/2021
South Korea’s FSS will shift focus from disciplinary actions to risk prevention, according to FSS governor Jeong Eun-bo.
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