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Operational Risk
Taiwan FSC Issues Guidelines on Bank Inspections
By Editors | 02/08/2021
The FSC says a key objective of the guidelines is to introduce innovative technology including big data analysis into the inspection process.
Cryptocurrency
UPDATED – MAS Grants “In-Principle Approval” to First DPT Provider
By Manesh Samtani | 02/08/2021
MAS has clarified that notices have been issued to several applicants and that “in-principle approval” is not an official term.
Anti-Money Laundering
Fighting Financial Crime with Advanced Technologies
By Ashish Rai | 02/08/2021
AI and machine learning make it easier for firms to spot suspicious behavior and reduce false positives, but adoption is not without challenges, says Ashish Rai.
Supervision & Enforcement
APRA Raises Expectations on Superannuation Entities
By Editors | 02/08/2021
APRA has written to RSE licensees describing their key obligations in light of the introduction of the Your Future, Your Super reforms.
Market Abuse
Westpac Insider Trading Case May Not Be Heard Until 2023
By Editors | 01/08/2021
A proposed February 2022 trial date will not be feasible as Westpac will have to be allowed sufficient time to review expert evidence.
Cryptocurrency
Regulatory Pressure on Binance Builds With Malaysia Ban
By Manesh Samtani | 01/08/2021
Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.
PEPs & Sanctions
State Street Updates TraHK Prospectus as US Sanctions Take Effect
By Sanday Chongo Kabange | 01/08/2021
In an addendum, State Street says TraHK units will not be offered or sold in the US or to US persons located outside the US.
Anti-Bribery & Corruption
China: Another Ex-Banking Regulator Under Corruption Probe
By Editors | 01/08/2021
Cai Esheng served as CBRC vice chairman for eight years. He was in charge of supervising non-bank financial institutions.
Supervision & Enforcement
CSRC Releases Latest Grades for Securities Firms
By Manesh Samtani | 01/08/2021
Goldman Sachs Gaohua Securities, Morgan Stanley Huaxin, and Credit Suisse Founder Securities made the list for the first time.
Conduct, Culture & Accountability
AIA New Zealand Faces Penalty for Misleading Customers
By Ranamita Chakraborty | 01/08/2021
AIA’s remediation process is complete and it has reviewed its systems and processes to make sure the breaches did not recur.
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