LATEST NEWS

AML / KYC

Singapore Passes Bill to Enable Data Sharing via COSMIC

By Editors | 09/05/2023

COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.

Market Infrastructure

Philippine SEC Issues Guidelines on Financial Instrument Identifiers

By Editors | 09/05/2023

The SEC issued guidelines on the allocation of ISIN, CFI and FISN codes to financial instruments in the Philippines.

FSC Korea to Lower Regulatory Burden for Firms Seeking M&A

By Sanday Chongo Kabange | 09/05/2023

The FSC will ease requirements on potential buyers to prove their financial capacity and set up facilities to help finance M&A activity.

AML / KYC

HKMA Calls for Broader Adoption of Network Analytics by Banks

By Manesh Samtani | 09/05/2023

Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file “super STRs”.

Enforcement

US Authorities Investigating Short Sales of Banking Stocks

By Editors | 09/05/2023

SEC chair Gary Gensler said the agency would go after any form of misconduct that might threaten investors or markets.

Capital / Liquidity

Fed Warns of Credit Contraction Resulting from Bank Stress

By Editors | 09/05/2023

Ongoing stresses in the banking system could lead to a broader contraction in credit, resulting in a “marked slowdown in economic activity”.

Securities / Derivatives

HSBC Strikes Deal to Buy Out China Fund Management JV

By Editors | 09/05/2023

HSBC has reportedly signed an agreement to raise its stake in the joint venture from  49 to 100 percent, subject to regulatory approval and other conditions.

AML / KYC

HK Companies Registry Issues AML Guidance for TCSP Licensees

By Editors | 09/05/2023

New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.

Market Infrastructure

RBNZ Proposes to Collect More Data on Cyber Incidents

By Editors | 09/05/2023

The RBNZ proposes to introduce mandatory reporting of all material cyber incidents within 72 hours, and periodic reporting of non-material incidents.