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KYC & CDD
Malaysia Central Bank to Finalise e-KYC Standards
By Editors | 11/09/2017
BNM governor has said the central bank intends to operationalise industry-wide e-KYC from next year; regulations for use in remittances to come soon.
Structural Regulation
Don’t Expect New EU Equivalency Decisions for Asia
By Samuel Riding | 07/09/2017
Ben Pott, head of government affairs at NEX Group, suggests Brexit and the time taken to resolve US-EU CCP issue, make equivalency rulings unlikely.
Supervision & Enforcement
Philippine Central Bank Strengthens Compliance Standards
By Editors | 28/08/2017
Chief compliance officer must be full-time, boards given overarching responsibility; foreign banks must translate all documents into English.
Cybersecurity
Philippines Central Bank to Embrace Regtech
By Samuel Riding | 21/08/2017
Regtech to include API for FIs’ reporting; BSP to push financial services firms to improve cyberdefences; two bitcoin exchanges get regulatory approval.
Data Privacy
Open Banking: A Roadmap for What’s to Come
By Stuart Fuller | 17/08/2017
A roadmap is useful when you get to a junction, where the path is unknown, and the choices are plenty. In the world of data, there are many junctions.
Capital Adequacy
Malaysia Launches Leverage Ratio Consultation
By Editors | 17/08/2017
Banks will be required to calculate leverage ratios as of June 30 this year in response to consultation before full requirement comes into effect.
Cybersecurity
APAC FIs Face Shortage of Cyber Crimefighters
By Samuel Riding | 16/08/2017
Deloitte says regulators in the region also need to take a more joined-up approach as financial institutions outsource to jurisdictions with looser regimes.
Anti-Money Laundering
Philippines Removed from AML/CTF Blacklist
By Samuel Riding | 16/08/2017
Asia / Pacific Group also removes Pakistan, Taiwan and Vietnam from list of closely monitored countries after improvements in AML/CTF regimes.
Conduct, Culture & Accountability
Pakistan’s Central Bank Releases Compliance Risk Management Guidelines
By Garima Chitkara | 10/08/2017
State Bank of Pakistan guidelines to promote a “compliance culture” in banks and encourage the adoption of a risk-focused approach to compliance.
Payments & Settlements
Thai Bank Governor Calls for Greater Financial Connectivity Across Region
By Garima Chitkara | 10/08/2017
Central bank governor made comments during the opening ceremony of the Asian Financial Cooperation Association.
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