All posts tagged "AML"
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522Contributed ArticleA New Structure for Private Equity Funds in Hong Kong
The Limited Partnership Fund Bill will be seen by PE industry stakeholders as a positive step towards bringing Hong Kong’s active PE market onshore, says international law firm Deacons.
March 28, 2020 -
398ChinaCBIRC Issues New Rules for Insurers’ Asset Management Products
Insurance asset management products may not invest more than 35% of net assets in shadow banking assets, and may not invest in commercial banks' credit assets directly.
March 27, 2020 -
1.1KAML / KYCHolding the Line on Ultimate Beneficial Ownership
Financial institutions need to ensure that UBO information on customers is complete and accurate, but this is only half the battle, says Refinitiv’s Phillip Malcolm.
March 25, 2020 -
2.3KAML / KYCMoving to a Continuous KYC Process
Greg Watson discusses how to streamline KYC reviews and move from regular 1-3-5 year reviews to perpetual KYC, managed-by-exception.
March 23, 2020 -
277AML / KYCMAS Penalises Trust Company for AML/CFT Failings
TMF Trustees Singapore was penalised SG$400,000 for failing to verify the source of wealth and monitor transactions on an ongoing basis.
March 20, 2020 -
179AML / KYCRBI Brings Payment Aggregators Under Regulatory Remit
The capital requirement for payment aggregators has been reduced to 150mn rupees, down from 1bn rupees proposed in September.
March 19, 2020 -
709AML / KYCS. Korea Approves Revisions to Legal Framework for Crypto
The revision bill was introduced last November, and passed on 5 March. The government has now approved the revision act at a cabinet meeting on 17 March.
March 18, 2020 -
302AML / KYCAustralia: Senate Committee Backs Passage of AML Amendments
The bill allows firms to rely on KYC performed by third parties, strengthens correspondent banking protections, and promotes greater use of financial intelligence to combat financial crime.
March 12, 2020 -
1.3KAML / KYCEuropean Banking Federation Publishes AML Blueprint
The EBF identifies four priorities that need to be addressed, from which it has formulated 20 concrete policy recommendations detailed in the blueprint.
March 11, 2020 -
310AML / KYCPhilippine Lawmakers File Bill Criminalising Cash Smuggling
In the Philippines' October 2019 mutual evaluation report, the APG noted low confiscation cases and detection levels in relation to bulk movements of currency across borders.
March 11, 2020
