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Anti-Money Laundering
FATF Releases Mutual Evaluation Report on China
By Editors | 19/04/2019
Some of the gaps identified relate to an insufficient focus on non-financial businesses and professions, difficulties identifying beneficial ownership, and an inadequate sanctions framework.
Market Abuse
SFC Fines Hedge Fund Manager for Naked Short Selling
By Editors | 19/04/2019
Nine Masts Capital sold shares in Yuzhou Properties in May 2015 before a share placement was complete, based on verbal confirmation of its allotment.
Cloud & Infrastructure
RBI Unveils Draft Framework for Regulatory Sandbox
By Editors | 19/04/2019
The framework details a comprehensive selection process to identify 10-12 entities to participate in the sandbox, including a 5 million rupee minimum net worth requirement.
Conduct, Culture & Accountability
NAB Provisions Extra A$750mn for Customer Refunds
By Editors | 19/04/2019
The additional provisions reflect expected payouts for NAB’s employed advisers, and the costs to review advice provided by its self-employed adviser network.
Credit Risk
BOK, FSS Launch Joint Audit into Major Banks’ Lending Practices
By Editors | 17/04/2019
The focus of the joint audit will be on the small business lending practices at Shinhan Bank, KB Kookmin Bank, Woori Bank and KEB Hana Bank.
Anti-Money Laundering
Singapore Charges its First National for Terrorism Financing
By Editors | 17/04/2019
Singapore’s Ministry of Home Affairs has confirmed that a Singaporean man has been charged for allegedly financing the publication of ISIS propaganda.
Supervision & Enforcement
APRA Adopts New, Tougher Enforcement Approach
By Editors | 17/04/2019
Under the new enforcement approach, APRA will be more willing to use its full range of powers to deter bad practices and hold entities and individuals to account.
Anti-Money Laundering
FATF to Adopt ‘Open-ended’ Mandate Starting in 2020
By Editors | 17/04/2019
The new open-ended mandate recognises FATF’s leadership role and strengthens its capacity to respond to threats facing the financial system.
Fraud, Scams & Cybercrime
Deloitte Indian Unit Under Investigation in IL&FS Case
By Editors | 16/04/2019
A letter from a whistleblower at Deloitte’s local India unit has triggered a malpractice investigation into its role as auditor for the troubled IL&FS group.
PEPs & Sanctions
Southeast Asia Vulnerable to North Korea Crypto Activity
By Editors | 15/04/2019
New RUSI research reveals how North Korea can exploit cryptocurrency, particularly in Southeast Asia, to circumvent international sanctions.
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