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Anti-Bribery & Corruption
Hong Kong Court Jails Former CCB Asia Sales Representative
By Editors | 12/05/2021
A CCB Asia sales executive secured a loan for a customer whose data was obtained from a DBS sales executive in exchange for a commission.
Anti-Money Laundering
MAS Consults on Proposed AML Notices for Foreign Offices, FRCs
By Manesh Samtani | 12/05/2021
MAS seeks comment on four notices, which contain requirements on record-keeping, internal policies, and the provision of records to MAS upon request.
Operational Risk
APRA to Adopt Standard Quarterly Reporting Due Dates for ADIs
By Editors | 12/05/2021
APRA will implement the due date of 35 calendar days after the reporting period for all quarterly reporting forms, except for the modernised EFS reporting forms.
Anti-Money Laundering
EBA Consults on Proposals for Central AML/CFT Database
By Editors | 12/05/2021
The central database will serve as an early warning tool to enable competent authorities to act before ML/TF risks crystalise and faciltiate inspections and monitoring.
Supervision & Enforcement
RBI to Review Supervisory Process for Banks, UCB, NBFCs
By Ranamita Chakraborty | 12/05/2021
Firms are invited to help the RBI review its supervisory processes for the banking sector and the supervisory ratings models used for UCBs and NBFCs.
Cryptocurrency
Korean Lawmakers Push for Tougher Crypto Legislation
By Sanday Chongo Kabange | 11/05/2021
Lawmakers are pushing for tougher crypto legislation to protect crypto investors against unfair practices and price manipulation.
Structural Regulation
CBIRC to Implement New Licensing Rules for FIs From 1 July
By Sanday Chongo Kabange | 11/05/2021
Under the new rules, CBIRC supervised institutions will be classified into three categories – financial, insurance and insurance intermediary.
Anti-Money Laundering
FMA, CLSA Premium NZ Agree Statement of Facts on AML Breaches
By Editors | 11/05/2021
The FMA is seeking a pecuniary penalty against CLSA Premium NZ and costs. The maximum penalty is NZD 2 million.
Anti-Money Laundering
Malaysia Files 22 Civil Suits to Recover 1MDB Losses
By Manesh Samtani | 11/05/2021
Among those named in the lawsuits are Deutsche Bank, Coutts, JPMorgan, former prime minister Najib Razak, and Malaysian financier Jho Low.
Fraud, Scams & Cybercrime
ASIC Bans Former ANZ Representative For Eight Years
By Editors | 10/05/2021
The representative falsely witnessed binding nomination of beneficiary forms for 17 clients, backdated documents, and falsified a client’s signature.
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