All posts tagged "Compliance"
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583AML / KYCStandard Chartered Fined Over $1bn by US, UK Authorities
Standard Chartered Bank will pay $947mn to US authorities for poor AML controls and sanctions breaches, and $134mn to the UK FCA for AML breaches.
April 11, 2019 -
718Australia & NZBanks Not Using Latest RegTech Solutions Must Explain Why – ASIC
ASIC reportedly plans to force banks to explain why they aren't using the latest technology to improve regulatory compliance, including systems offered by regtech startups.
March 29, 2019 -
607FeatureBanks Increasingly Focused on Conduct Risk – FSB
At an FSB workshop on compensation practices, banks reported an increased focus on conduct risk, management accountability and culture reform.
March 12, 2019 -
735AML / KYCAPRA, AUSTRAC to Engage Regtechs on Solution Development
APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.
March 8, 2019 -
446Capital Regulation
FSB Explores Effects of Regulatory Reform on SME Financing
The FSB is seeking feedback on observed trends and drivers in SME financing, and whether regulatory reforms such as Basel III have affected financing to SMEs.
February 28, 2019 -
451Asia-PacificBSP Streamlines Licensing Process e-Financial Services Firms
The move is in line with BSP's reform agenda to promote digital innovation and increase availability of safer and more efficient channels for financial services.
February 25, 2019 -
580Securities & TradingMAS Discusses Supervisory Toolkit for Fund Managers – Speech
MAS places emphasis on conduct and individual accountability in its supervisory approach, using data analytics to help identify unusual trends and flag outliers among fund managers.
February 19, 2019 -
732AML / KYCSFC Fines Guosen Securities $1.94mn for AML Breaches
The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.
February 19, 2019 -
487Australia & NZ
APRA Issues Update on Implementation of Hayne Recommendations
APRA details the work already underway to implement the Recommendations and confirms it is examining the 12 matters referred by the Royal Commission.
February 12, 2019 -
512Big PictureBoard, Compliance Engagement Lacking in Technology Adoption
Financial services firms lack engagement from boards and risk and compliance functions, according to a new survey from Thomson Reuters Regulatory Intelligence.
February 7, 2019
