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Conduct, Culture & Accountability
Australia to Form New Disciplinary Body for Financial Advisers
By Editors | 15/10/2019
The plan undoes months of effort by industry associations to form an independent body to monitor and enforce compliance with a new code of ethics for financial advisors.
Anti-Money Laundering
Philippines Makes Push to End Bank Secrecy
By Editors | 15/10/2019
BSP governor Benjamin Diokno has said the central bank wants to help convince lawmakers of the importance of lifting bank secrecy as part of a bill to grant amnesty to errant taxpayers.
Fraud, Scams & Cybercrime
MAS Bars Four Individuals for Fraudulent, Dishonest Conduct
By Editors | 14/10/2019
The former representatives from Great Eastern Life, Prudential and UOB abused the trust clients placed in them and enriched themselves at the expense of clients, MAS said.
Anti-Money Laundering
Refocusing the AML Model on Evidence and Outcomes
By Matthew Redhead | 14/10/2019
Under the current AML model, the ultimate focus for FIs is to protect the institution and the bottom line rather than reduce money laundering, says RUSI’s Matthew Redhead.
Supervision & Enforcement
Malaysia Passes Bill to Form New Anti-Financial Crime Body
By Editors | 13/10/2019
Expected to launch in January, the National Anti-Financial Crime Centre (NAFCC) will coordinate the efforts of 12 enforcement agencies to tackle financial crime.
Structural Regulation
Stock Connect to Launch Southbound Investor ID Regime “Soon”
By Editors | 12/10/2019
The launch of the investor identification regime for southbound trading will mark the first time mainland investors will have their personal information shared with Hong Kong’s regulator.
Conduct, Culture & Accountability
CBIRC Orders Self-Inspections to Correct Consumer Harm
By Editors | 11/10/2019
Banks and insurance companies are required to carry out self-inspections to detect and correct practices that infringe on the rights of consumers by 30 November.
Trading & Investment
Redemptions Halted at Korean Hedge Fund Amid Probe
By Editors | 11/10/2019
An FSS probe into alleged unfair trading has triggered investor redemptions which Lime Asset Management has not been able to meet.
Emerging Prudential Risks
Thailand Banking Sector Resilient to Severe Shocks: IMF
By Editors | 10/10/2019
Stress tests results and sensitivity analysis indicate that Thailand’s largest banks can withstand a shock broadly “as severe as the Asian financial crisis”.
Anti-Money Laundering
Fighting Financial Crime: HSBC Unveils New AML Tool
By CorporateTreasurer | 10/10/2019
The tool, which was deployed in the UK and Hong Kong on August 30, will be rolled out in a further 39 markets through 2020.
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