Other Asia Pacific

AML / KYC

Pakistan Passes Three More FATF-related Bills

By Editors | 22/09/2020

A joint parliamentary session was convened after the three bills were rejected by the Senate last month. FATF is set to assess Pakistan’s progress next month.

BOT Sets Out New Rules for ‘Digital Personal Loans’

By Editors | 21/09/2020

Under the regulations, alternative data including payment information relating to water, electricity and telephone bills can be used to support loan applications.

AML / KYC

Covid-19 Presents Opportunity to Disrupt Criminals: APG

By Editors | 20/09/2020

In its latest typologies report, the APG says Covid-19 may provide a unique opportunity for law enforcement and FIUs to detect and disrupt certain money laundering operations.

AML / KYC

Cambodia, China Reject US Sanctions Against Chinese SOE

By Editors | 20/09/2020

OFAC alleges that Chinese state-owned company Union Development Group seized land from locals for development through a corrupt Cambodian general.

Enforcement

Sri Lanka to Enhance Capital Market Through New SEC Act

By Duruthu E Chandrasekera | 19/09/2020

The new SEC Act will allow for recognition of new categories of market intermediaries and introduce new enforcement mechanisms to deal with market misconduct.

Big Picture

Firms Lagging in Preparations for UMR Compliance: Survey

By Manesh Samtani | 19/09/2020

State Street found that 19% of Phase 5 and 6 firms are fully prepared for UMR compliance. Hedge funds are said to be the least prepared for compliance.

Cambodia to Unify Non-Banking Financial Services Regulators

By Sanday Chongo Kabange | 18/09/2020

Regulators of insurance, private pensions, securities, social security, administration, accounting and auditing, real estate, mortgages and guarantees will be combined into a single authority.

Market Infrastructure

Colombo Stock Exchange Digitalises Core Operations

By Duruthu E Chandrasekera | 18/09/2020

Account opening and post-trade functions such as clearing and settlement are now electronically enabled. E-contract notes and e-statements have also been adopted.

Securities / Derivatives

Myanmar Plans Second Stock Exchange For Public Companies

By Sanday Chongo Kabange | 17/09/2020

The new exchange will be set up as a pre-listing board with looser listing requirements, and serve as a launchpad for listing on the YSX.