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Conduct, Culture & Accountability
Westpac Ordered to Pay A$9.15m Penalty for Poor Advice
By Editors | 20/12/2019
In addition to the A$9.15 million penalty, Westpac is required to pay ASIC’s legal costs, and A$12.7 million in compensation to clients that received bad advice from one of the bank’s adviser.
Payments & Settlements
China Raises Daily Remittance Limit for Macau Residents
By Editors | 20/12/2019
The move comes as President Xi Jinping visits Macau this week, amid expectations that further preferential policies will be announced to promote Macau as a financial centre.
Anti-Money Laundering
Regulation Asia: Top Ten News Stories for 2019
By Editors | 20/12/2019
This list presents the most-read new stories published by Regulation Asia in 2019, based on aggregated user traffic analytics.
Anti-Money Laundering
Regulation Asia: Top Ten Contributed Articles for 2019
By Editors | 20/12/2019
This list presents the most-read contributed articles published by Regulation Asia in 2019, based on aggregated user traffic analytics.
Payments & Settlements
South Korea Formally Launches Open Banking Service
By Editors | 20/12/2019
Open banking will serve as a catalyst for various innovations and bring tectonic shifts in the financial industry, FSC chairman Eun Sung-soo said at the launch event.
Anti-Bribery & Corruption
Bursa Malaysia Adds Anti-Corruption Measures to Listing Requirements
By Editors | 20/12/2019
New requirements to have anti-corruption and whistle-blowing policies in place will promote better governance, accountability and transparency for investors.
Payments & Settlements
India Shows How Policy Can Solve Financial Inclusion: BIS Paper
By Editors | 19/12/2019
The paper highlights India’s Aadhaar programme, which promotes financial inclusion, offers more robust AML/CFT checks, and has led to the creation of several innovative and interoperable digital platforms.
Structural Regulation
JP Morgan Secures Business Licence for China Joint Venture
By Editors | 19/12/2019
The CSRC gave JP Morgan approval to set up majority-owned securities joint venture in China since March, but it has not been granted a licence to operate until now.
Structural Regulation
China, US in Talks on Allowing Joint Inspections of Auditors
By Editors | 19/12/2019
The CSRC has reportedly been in talks with the US audit regulator on allowing joint inspections of firms that audit Chinese companies listed in the US.
Structural Regulation
UPDATED – ZA Bank Becomes First HK Virtual Bank to Launch Pilot Services
By Editors | 19/12/2019
ZA Bank, backed by ZhongAn and Sinolink Group, has launched services for 2,000 selected users to test under the HKMA’s sandbox mechanism.
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