This list presents the most-read new stories published by Regulation Asia in 2019, based on aggregated user traffic analytics.
HKMA Rules on Bank Exposure Limits to Take Effect From 1 July (25 Jun 2019)
Under the rules, authorised institutions are subject to a statutory limit of 25% of capital on financial exposure to any one person or group of related persons.
SWIFT, HSBC to Define Common API Standard for Hong Kong (4 Oct 2019)
The new standard will re-use ISO 20022 components to ensure interoperability with Hong Kong’s clearing and settlement systems, facilitating the next phases of open banking in the city.
MAS Renews Call for Use of Data Analytics in AML/CFT Programmes (9 Apr 2019)
MAS has renewed calls for financial institutions to further develop their data analytics capabilities in the interest of improving the effectiveness of their AML/CFT programmes.
China Strengthens AML/CFT Regime with New Guidance (22 Feb 2019)
CBIRC has released guidance to help financial institutions improve AML/CFT controls, on the heels of recent news that PBOC is scrapping its approval process for corporate accounts.
HKMA Urges ‘Data Ethics’ in FinTech Development (6 May 2019)
The HKMA encourages authorised institutions to adopt the PCPD’s Ethical Accountability Framework in the development of fintech products and services.
Lessons from Singapore’s KYC Utility Project (22 Nov 2018)
The Association of Banks in Singapore has published a report detailing the core design decisions, achievements, challenges and lessons from the recently-shelved KYC utility project.
HKMA Grants Four More Virtual Bank Licences (9 May 2019)
Ant Financial, Tencent, ICBC Asia, HKEX, Xiaomi and Ping An are among the backers of the four licence recipients, bringing the total number of virtual banks in Hong Kong to eight.
S. Korea FSC Announces Derivatives Market Reforms (31 May 2019)
The minimum deposit requirements will be abolished for professional investors and eased for retail investors. The minimum 20-hour compulsory training requirement will be reduced.
MAS Consults on AML/CFT Notices for Payment Services (7 Jun 2019)
The first Notice covers account issuance, money transfers and money changing services. The second Notice sets out a separate framework for digital payment tokens.
SWIFT Sees Growing ISO 20022 Adoption in Asia Pacific (3 Apr 2019)
SWIFT has released a new report on the state of adoption of the ISO 20022 financial messaging standard among Asia Pacific securities market infrastructures.
For our top ten contributed articles of the year, click here.
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