Financial Action Task Force

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    Sanctions

    US Officials in Malaysia, Singapore This Week to Discuss Sanctions

    By Editors | 06/05/2024

    Treasury’s Brian Nelson and Neil MacBride will meet with the Malaysian and Singapore financial sectors to discuss compliance and enforcement efforts.

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    AML / KYC

    China Issues New Rules on Beneficial Ownership Registration

    By Manesh Samtani | 03/05/2024

    The new regulations will come into effect on 1 November 2024. Existing in-scope entities will have until 1 November 2025 to register beneficial owner information.

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    Securities / Derivatives

    RBI Issues Draft Framework for Electronic Trading Platforms

    By Ajoy K Das | 02/05/2024

    ETPs operated from outside India by an operator incorporated outside India may seek authorisation to provide platform access to Indian residents.

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    AML / KYC

    Australia Opens 2nd Consultation on ‘Tranche 2’ AML Reforms

    By Manesh Samtani | 02/05/2024

    The proposed reforms will extend the AML/CTF regime to cover Tranche 2 entities and a broader range of digital currency-related services.

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    AML / KYC

    Wolfsberg Group Responds to FATF Payment Transparency Consultation

    By Manesh Samtani | 01/05/2024

    Operators of payment market infrastructures should be brought into the scope of R.16 and ISO 20022 terminology should be adopted.

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    AML / KYC

    China Seeks Feedback on Draft Revisions to AML Law

    By Editors | 29/04/2024

    The scope of the law is expanded to cover non-financial businesses and professions and formally adopt the concept of “beneficial ownership”, among other changes.

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    AML / KYC

    FATF Ministers Pledge Stronger Measures Against Financial Crime

    By Mark Johnston | 23/04/2024

    The FATF has published a Ministers’ Declaration to reinforce their commitment to combating financial crime.

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    Crypto / Digital Assets

    NZ Official Hints at Future Crypto Regulatory Framework

    By Sanday Chongo Kabange | 15/04/2024

    Andrew Bayly acknowledged the risk of regulatory arbitrage “if New Zealand does not keep in step with” major digital asset regulatory developments.

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    AML / KYC

    Malaysia Consults on Proposed Trust Companies Bill

    By Editors | 09/04/2024

    Since coming into force in 1949, Malaysia’s Trust Companies Act has only been reviewed once in 1973.

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    AML / KYC

    Indonesian President Signs Decree on FATF Membership

    By Editors | 09/04/2024

    The decree signing strengthens Indonesia’s commitment to participate in combating financial crime globally, said the head of the country’s FIU.

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