Malaysia

AML / KYC

MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’

By Editors | 23/10/2020

The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.

AML / KYC

Goldman Resolves Remaining 1MDB Charges for $2.9bn

By Manesh Samtani | 22/10/2020

Under the coordinated resolution, Goldman will pay $606mn in disgorgement and more than $2.3bn in penalties to authorities in the US, UK, Hong Kong and Singapore.

Enforcement

Malaysia SRO Reprimands Two Unit Trust Consultants for Misconduct

By Sanday Chongo Kabange | 22/10/2020

The two consultants allegedly schemed a plot to market, distribute and sell unit trust funds while they served as registered consultants of different entities.

AML / KYC

Goldman US Penalty Over 1MDB to be Announced ‘Within Days’

By Editors | 20/10/2020

Goldman Sachs Group has reportedly reached a more than $2bn settlement with the US DOJ over its role in Malaysia’s 1MDB scandal.

Securities / Derivatives

SC Malaysia to Allow Financial Planners to Advise on Stocks, Bonds

By Editors | 11/10/2020

The new policy will encourage informed participation in stocks and bonds, while also protecting investors against bad investment choices.

AML / KYC

Hong Leong Bank Launches Digital Account Opening

By Editors | 08/10/2020

Hong Leong has become the first Malaysia bank to launch “fully digital” account opening, just three months after BNM’s new e-KYC guidelines took effect.

Crypto / Digital Assets

Malaysian MSMEs Cross MYR 1bn Crowdfunding Mark

By Sanday Chongo Kabange | 06/10/2020

The SC highlighted a “considerable increase” in investor participation in markets via digital investment managers, ECF and P2P platforms, digital asset exchanges and online brokers.

Capital / Liquidity

BNM to Allow Banks to Add-back ECL to CET1 Capital

By Manesh Samtani | 29/09/2020

Banks which elect to apply the transitional arrangements are allowed to add back a portion of Stage 1 and Stage 2 provisions for ECL to CET1 capital.

Securities / Derivatives

Malaysia Extends Margin Financing Flexibilities to Year-end

By Editors | 29/09/2020

The temporary margin financing relief measures due to expire on 30 September will be extended to 31 December 2020.