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Operational Risk
APRA Asks Insurers to Review Risk Management Frameworks
By Ranamita Chakraborty | 22/07/2021
The self-assessments must be submitted to APRA by 30 November. Feedback will be provided early next year.
Market Abuse
Singapore: Three Individuals Charged for Insider Trading
By Editors | 22/07/2021
The former CFO of SGX-listed Broadway Industrial Group communicated insider information to two other individuals.
Anti-Money Laundering
Japan Banks to Deploy Shared System for AML/CFT Monitoring
By Manesh Samtani | 22/07/2021
The FSA’s Hiroshi Ozaki said the banking sector is planning to deploy a shared transaction monitoring and screening system for AML/CFT across the industry.
Anti-Money Laundering
HKMA Targets Effectiveness in Addressing AML, Fraud risk
By Manesh Samtani | 22/07/2021
HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.
Supervision & Enforcement
HKMA Revises Policy Manual on Bank Group Supervision
By Editors | 21/07/2021
The SPM module was revised to reflect the current supervisory approach and practices adopted by the HKMA and to incorporate international standards.
Anti-Money Laundering
Singapore Man Admits to Laundering Money in SkillsFuture Scam
By Ranamita Chakraborty | 20/07/2021
A former Grab and Uber driver has admitted to playing the role of a “dummy director” of several shell companies involved in the SkillsFuture scam.
Anti-Money Laundering
SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches
By Editors | 20/07/2021
Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.
Conduct, Culture & Accountability
Australia Issues Consultation on Financial Accountability Regime
By Sanday Chongo Kabange | 20/07/2021
The FAR will not impose civil penalty liability on accountable persons, a shift from the government’s position in a January 2020 consultation.
Anti-Money Laundering
HK Customs Arrests Four for Laundering Funds Using Tether
By Sanday Chongo Kabange | 19/07/2021
The four are part of a syndicate that charged criminal clients a commission of 3-5% to launder illicit proceeds from crime.
PEPs & Sanctions
US Government Warns Of Rising Business Risk in Hong Kong
By Editors | 18/07/2021
A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.
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