India

KYC & CDD

India Plans to Offer Bank Accounts to Households

By Editors | 30/08/2014

India’s state-owned banks are conducting a massive campaign to open millions of accounts for poor Indians who are off the financial grid and vulnerable to black market money lenders.

Anti-Money Laundering

Standard Chartered Fined $300 Million by US Financial Watchdog

By Editors | 21/08/2014

Standard Chartered will pay $300m over lapses in anti-money-laundering procedures and temporarily suspend its dollar clearing operations with high-risk clients in Hong Kong, the New York State Department of Financial Services (DFS) said.

Credit Risk

Indian Large Banks Trim Exposure in Singapore

By Editors | 20/08/2014

India’s large banks are reducing their exposure in Singapore amid tightened regulation and oversight by the Monetary Authority of Singapore of foreign banks.

PEPs & Sanctions

PwC Fined $25 Million for Altering Probe Report on Japanese Bank

By Editors | 18/08/2014

New York state has fined PricewaterhouseCoopers $25m and suspended some consulting work for two years after it altered a report to regulators on sanctions and money-laundering controls for Bank of Tokyo-Mitsubishi UFJ Ltd.

Fraud, Scams & Cybercrime

India Tightens Regulatory Noose on Fraudsters

By Editors | 12/08/2014

Parliament has cleared a key bill to allow the Securities and Exchange Board of India to act against ponzi schemes and market manipulators more effectively with powers for search and seizure, attachment of assets, arrest of defaulters and access to call data records.

Credit Risk

India’s SEBI Seeks Ban on Wilful Defaulters Raising Funds in Market

By Editors | 06/08/2014

The Securities and Exchange Board of India said it is talking with the Reserve Bank of India as it finalises regulations around wilful loan defaulters.

Structural Regulation

India’s SEBI Plans Separate Governance Norms for Big Corporates

By Editors | 23/07/2014

India’s market regulator is planning a separate corporate governance standards for big and complex business groups.

Trading & Investment

India’s SEBI Issues New Guidelines on Crowdfunding

By Editors | 20/06/2014

The Securities and Exchange Board of India seeks public opinion on new guidelines for ‘crowdfunding’ or fund-raising through web-based platforms and social networking sites.

KYC & CDD

India’s SEBI Asks Depository Participants to Share FPI Information with Banks

By Editors | 17/06/2014

Market regulator Securities and Exchange Board of India has asked depository participants to share information about foreign portfolio investors with banks, as part of efforts to harmonise norms focused on client information.