ADVERTISEMENT
Structural Regulation
Philippine SEC Threatens Online Lenders with Licence Revocation
By Sanday Chongo Kabange | 29/06/2021
The threat is aimed at lending and financing companies that have failed to register and disclose their online lending platforms.
Anti-Money Laundering
FATF Plenary Packs Powerful Punch
By Manesh Samtani | 25/06/2021
The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.
Data Privacy
BSP Unveils Open Finance Framework, Plans Tiered Implementation
By Sanday Chongo Kabange | 23/06/2021
The framework promotes consent-driven data portability, interoperability, and collaborative partnerships between FIs and fintech players, the BSP said.
Cybersecurity
Enterprise Ireland, Kapronasia Publish APAC Regtech Study
By Manesh Samtani | 23/06/2021
Lengthy procurement processes, cumbersome IT and security approvals, and implementation complexity are hindering APAC regtech adoption.
Anti-Money Laundering
Philippine SEC Backs Amendments to Bank Secrecy Law
By Ranamita Chakraborty | 21/06/2021
Bank secrecy has prevented the SEC from validating information and establishing the owners of bank accounts linked to securities violations.
Structural Regulation
BSP to Issue Strict Regulations On ‘Digital Bank’ Branding
By Ranamita Chakraborty | 17/06/2021
Banks that do not meet specified conditions are prohibited from marketing themselves as digital banks, the BSP said in a circular.
Anti-Money Laundering
SEC Orders Finance, Lending Companies to Submit AML Plans
By Editors | 16/06/2021
All financing and lending companies have until 21 June to submit plans for implementing a comprehensive and risk-based AML/CFT programme.
KYC & CDD
Financial Crime Compliance Costs to Reach $213.9bn for 2021
By Editors | 12/06/2021
KYC for onboarding and customer risk profiling were cited as the biggest challenges for APAC financial institutions in a LexisNexis Risk Solutions study.
Anti-Money Laundering
Philippine AMLC Amends AML/CTF Guidelines for DNFBPs
By Editors | 11/06/2021
The revisions broaden the scope to include newly covered persons and add a new section on the implementation of the targeted financial sanctions, among other changes.
Structural Regulation
BSP Issues Two New Digital Bank Licences
By Ranamita Chakraborty | 09/06/2021
The BSP has now granted three digital bank licences to date, two of which are conversions from other types of banking licences.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.